LPL Financial LLC Decreases Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

LPL Financial LLC cut its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 66.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,659 shares of the company's stock after selling 26,709 shares during the quarter. LPL Financial LLC's holdings in Scholar Rock were worth $590,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC raised its holdings in Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after purchasing an additional 84,118 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock valued at $12,361,000 after buying an additional 120,489 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Scholar Rock in the 4th quarter valued at $274,000. Rhumbline Advisers lifted its stake in shares of Scholar Rock by 13.2% during the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company's stock worth $4,895,000 after purchasing an additional 13,247 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in Scholar Rock in the 4th quarter valued at about $942,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK traded down $1.59 during trading on Monday, reaching $31.23. 1,389,723 shares of the company traded hands, compared to its average volume of 1,105,807. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98. The firm has a market capitalization of $2.96 billion, a PE ratio of -13.29 and a beta of 0.56. The company's 50 day moving average is $32.77 and its two-hundred day moving average is $35.72.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $42.67.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the transaction, the insider now owns 111,084 shares in the company, valued at approximately $4,154,541.60. This represents a 38.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.42, for a total value of $34,626.52. Following the completion of the sale, the director now directly owns 30,319 shares in the company, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,231 shares of company stock valued at $9,056,086 in the last quarter. 13.30% of the stock is currently owned by company insiders.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.