Raymond James Financial Inc. purchased a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,743 shares of the company's stock, valued at approximately $2,625,000. Raymond James Financial Inc. owned about 0.06% of Scholar Rock at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Scholar Rock during the third quarter valued at about $202,000. Charles Schwab Investment Management Inc. increased its stake in Scholar Rock by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company's stock valued at $4,027,000 after buying an additional 42,139 shares during the last quarter. 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 in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Scholar Rock by 900.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,331 shares of the company's stock worth $291,000 after buying an additional 32,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Scholar Rock by 7.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company's stock valued at $759,000 after acquiring an additional 6,269 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.
Insider Activity at Scholar Rock
In related news, 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 transaction of $215,020.00. Following the sale, the insider now directly owns 71,750 shares in the company, valued at approximately $2,373,490. The trade was a 8.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 30,319 shares of the company's stock, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 299,772 shares of company stock worth $11,245,798. Company insiders own 19.20% of the company's stock.
Analyst Ratings Changes
Separately, Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $42.67.
View Our Latest Stock Analysis on SRRK
Scholar Rock Stock Performance
Shares of NASDAQ:SRRK traded down $2.07 during mid-day trading on Tuesday, reaching $30.08. The company had a trading volume of 1,005,873 shares, compared to its average volume of 1,173,296. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company's 50-day moving average price is $37.52 and its 200-day moving average price is $33.40. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -12.82 and a beta of 0.59.
About Scholar Rock
(
Free Report)
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.
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