LPL Financial LLC Reduces Stake in Scholar Rock Holding Co. (NASDAQ:SRRK)

LPL Financial LLC decreased its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 66.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,659 shares of the company's stock after selling 26,709 shares during the quarter. LPL Financial LLC's holdings in Scholar Rock were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SRRK. American Century Companies Inc. purchased a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $28,394,000. Exome Asset Management LLC purchased a new stake in shares of Scholar Rock during the third quarter valued at approximately $1,115,000. Geode Capital Management LLC boosted its stake in shares of Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock valued at $12,361,000 after purchasing an additional 120,489 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Scholar Rock by 23.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,409 shares of the company's stock valued at $26,901,000 after purchasing an additional 119,616 shares during the period. Finally, Barclays PLC boosted its stake in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock valued at $1,324,000 after purchasing an additional 84,118 shares during the period. Institutional investors own 91.08% of the company's stock.

Scholar Rock Trading Up 3.5 %

Shares of SRRK traded up $1.10 during midday trading on Tuesday, hitting $32.77. The stock had a trading volume of 1,722,496 shares, compared to its average volume of 1,253,445. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. The firm has a market cap of $3.11 billion, a PE ratio of -13.94 and a beta of 0.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock's 50 day moving average is $32.51 and its 200 day moving average is $35.74.

Insiders Place Their Bets

In other news, insider Tracey Sacco sold 5,000 shares of the company's stock in a transaction on Friday, April 25th. The stock was 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 represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mo Qatanani sold 68,510 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 111,084 shares in the company, valued at approximately $4,154,541.60. The trade was a 38.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,231 shares of company stock worth $9,220,236 in the last three months. Corporate insiders own 13.30% of the company's stock.

Analyst Upgrades and Downgrades

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