Prudential Financial Inc. Buys Shares of 45,020 Scholar Rock Holding Co. (NASDAQ:SRRK)

Prudential Financial Inc. bought a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 45,020 shares of the company's stock, valued at approximately $1,946,000.

Several other institutional investors have also made changes to their positions in SRRK. Vanguard Group Inc. lifted its stake in Scholar Rock by 17.6% during the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock worth $205,013,000 after purchasing an additional 708,817 shares during the period. American Century Companies Inc. acquired a new position in shares of Scholar Rock in the 4th quarter worth approximately $28,394,000. FMR LLC lifted its position in shares of Scholar Rock by 3.1% during the 3rd quarter. FMR LLC now owns 10,196,046 shares of the company's stock worth $81,670,000 after buying an additional 308,813 shares during the period. Exome Asset Management LLC acquired a new stake in Scholar Rock in the 3rd quarter valued at $1,115,000. Finally, Geode Capital Management LLC grew its position in Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock valued at $12,361,000 after acquiring an additional 120,489 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Price Performance

SRRK traded up $2.59 during trading on Wednesday, hitting $27.06. The company's stock had a trading volume of 2,119,378 shares, compared to its average volume of 1,206,979. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -11.51 and a beta of 0.56. The firm's 50 day moving average price is $34.72 and its two-hundred day moving average price is $34.25. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98.

Insider Activity at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total value of $2,562,274.00. Following the transaction, the insider now directly owns 111,084 shares in the company, valued at approximately $4,154,541.60. This trade represents a 38.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tracey Sacco sold 6,500 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the sale, the insider now owns 71,750 shares of the company's stock, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 299,772 shares of company stock valued at $11,245,798 over the last ninety days. 19.20% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Scholar Rock Profile

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.