Price T Rowe Associates Inc. MD Buys 629,315 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

Price T Rowe Associates Inc. MD raised its position in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,283,421 shares of the company's stock after purchasing an additional 629,315 shares during the period. Price T Rowe Associates Inc. MD owned approximately 9.92% of Scholar Rock worth $401,231,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SRRK. Barclays PLC lifted its holdings in Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company's stock worth $1,324,000 after acquiring an additional 84,118 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Scholar Rock by 8.5% during the 3rd 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 in the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 708,817 shares during the period. Principal Financial Group Inc. bought a new stake in Scholar Rock during the 4th quarter worth approximately $274,000. Finally, Rhumbline Advisers raised its holdings in Scholar Rock by 13.2% during the 4th quarter. Rhumbline Advisers now owns 113,261 shares of the company's stock worth $4,895,000 after buying an additional 13,247 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Scholar Rock Stock Up 0.5 %

Shares of NASDAQ SRRK traded up $0.17 during midday trading on Wednesday, reaching $32.94. The company's stock had a trading volume of 254,986 shares, compared to its average volume of 1,249,596. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock has a 50 day simple moving average of $32.51 and a 200-day simple moving average of $35.74. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -13.90 and a beta of 0.56. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and a consensus target price of $42.67.

Insiders Place Their Bets

In related news, insider Tracey Sacco sold 5,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $2,355,552.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 7,809 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $287,605.47. Following the completion of the sale, the chief financial officer now directly owns 140,740 shares in the company, valued at approximately $5,183,454.20. The trade was a 5.26 % 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 valued at $9,220,236 in the last three months. 13.30% of the stock is currently owned by corporate insiders.

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.