Baird Financial Group Inc. Invests $1.38 Million in Scholar Rock Holding Co. (NASDAQ:SRRK)

Baird Financial Group Inc. bought a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 31,904 shares of the company's stock, valued at approximately $1,379,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SRRK. FMR LLC increased its position in shares of Scholar Rock by 33.7% in the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock valued at $589,316,000 after buying an additional 3,439,215 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Scholar Rock by 7.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company's stock valued at $401,231,000 after buying an additional 629,315 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Scholar Rock by 17.6% in the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after buying an additional 708,817 shares in the last quarter. Marshall Wace LLP boosted its stake in Scholar Rock by 1,283.7% in the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock worth $127,301,000 after purchasing an additional 2,732,546 shares during the period. Finally, Bellevue Group AG boosted its stake in Scholar Rock by 16.2% in the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company's stock worth $108,512,000 after purchasing an additional 349,487 shares during the period. Institutional investors own 91.08% of the company's stock.

Insider Buying and Selling at Scholar Rock

In other news, insider Tracey Sacco sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $32.83, for a total transaction of $164,150.00. Following the transaction, the insider now directly owns 71,750 shares of the company's stock, valued at approximately $2,355,552.50. This trade represents a 6.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay T. Backstrom sold 18,372 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $676,640.76. Following the transaction, the chief executive officer now directly owns 311,991 shares in the company, valued at $11,490,628.53. This represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,231 shares of company stock valued at $9,220,236 in the last three months. 13.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wedbush reaffirmed an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Scholar Rock currently has a consensus rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Performance

Shares of SRRK stock traded down $0.28 on Friday, reaching $30.55. The stock had a trading volume of 1,075,653 shares, compared to its average volume of 1,273,907. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -13.00 and a beta of 0.37. 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 12 month low of $6.76 and a 12 month high of $46.98. The firm's 50-day moving average is $31.19 and its two-hundred day moving average is $35.87.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.04). On average, research analysts expect that Scholar Rock Holding Co. will post -2.42 EPS for the current fiscal year.

Scholar Rock Company 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.