Baird Financial Group Inc. Acquires Shares of 31,904 Scholar Rock Holding Co. (NASDAQ:SRRK)

Baird Financial Group Inc. acquired a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 31,904 shares of the company's stock, valued at approximately $1,379,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Scholar Rock by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company's stock valued at $34,000 after purchasing an additional 269 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company's stock valued at $39,000 after buying an additional 766 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock valued at $48,000 after buying an additional 1,031 shares during the last quarter. Amalgamated Bank increased its holdings in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock valued at $114,000 after buying an additional 620 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Scholar Rock during the fourth quarter valued at approximately $131,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Stock Performance

SRRK stock traded down $0.39 during midday trading on Monday, reaching $30.16. 975,733 shares of the company's stock traded hands, compared to its average volume of 1,269,689. The stock's 50-day moving average is $31.07 and its 200 day moving average is $35.98. 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 stock has a market cap of $2.86 billion, a P/E ratio of -12.83 and a beta of 0.37. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same period in the previous year, the firm earned ($0.59) EPS. As a group, analysts anticipate that Scholar Rock Holding Co. will post -2.42 EPS for the current year.

Insider Transactions at Scholar Rock

In related news, insider Tracey Sacco sold 6,500 shares of the company's stock in a transaction on Monday, March 24th. The shares were 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 owns 71,750 shares in the company, valued at approximately $2,373,490. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.42, for a total transaction of $34,626.52. Following 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. Insiders sold a total of 255,231 shares of company stock valued at $9,220,236 over the last three months. Corporate insiders own 13.30% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $42.67.

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.