Wells Fargo & Company MN Grows Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Wells Fargo & Company MN grew its holdings in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 58.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,590 shares of the company's stock after buying an additional 14,274 shares during the period. Wells Fargo & Company MN's holdings in Scholar Rock were worth $1,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Scholar Rock by 17.6% during the 4th 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. Norges Bank purchased a new position in shares of Scholar Rock during the 4th quarter worth about $86,043,000. Geode Capital Management LLC boosted its stake in shares of Scholar Rock by 14.7% during the 4th quarter. Geode Capital Management LLC now owns 1,770,324 shares of the company's stock worth $76,530,000 after purchasing an additional 227,299 shares during the period. Wellington Management Group LLP boosted its stake in shares of Scholar Rock by 763.8% during the 4th quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock worth $74,581,000 after purchasing an additional 1,525,845 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Scholar Rock during the 4th quarter worth about $33,567,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Trading Down 3.5 %

SRRK traded down $1.14 on Monday, reaching $31.67. 2,467,213 shares of the company traded hands, compared to its average volume of 1,248,561. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The firm has a fifty day simple moving average of $32.64 and a two-hundred day simple moving average of $35.76. The company has a market cap of $3.00 billion, a P/E ratio of -13.48 and a beta of 0.56. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insider Activity

In other news, insider Mo Qatanani sold 68,510 shares of Scholar Rock stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total value of $2,562,274.00. Following the transaction, the insider now owns 111,084 shares of the company's stock, valued at $4,154,541.60. The trade was a 38.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracey Sacco sold 6,500 shares of Scholar Rock stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 250,231 shares of company stock worth $9,056,086. 13.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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