Raymond James Financial Inc. Takes $2.63 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Raymond James Financial Inc. purchased a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 60,743 shares of the company's stock, valued at approximately $2,625,000. Raymond James Financial Inc. owned approximately 0.06% of Scholar Rock as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SRRK. FMR LLC boosted its position in Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company's stock worth $589,316,000 after purchasing an additional 3,439,215 shares during the period. Norges Bank purchased a new stake in shares of Scholar Rock in the fourth quarter worth about $86,043,000. Wellington Management Group LLP grew its stake in shares of Scholar Rock by 763.8% in the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock valued at $74,581,000 after buying an additional 1,525,845 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Scholar Rock during the 4th quarter valued at about $33,567,000. Finally, Vanguard Group Inc. lifted its position in shares of Scholar Rock by 17.6% during the fourth 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 in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Scholar Rock news, General Counsel Junlin Ho sold 5,742 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $36.83, for a total transaction of $211,477.86. Following the completion of the transaction, the general counsel now owns 189,295 shares in the company, valued at approximately $6,971,734.85. The trade was a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mo Qatanani sold 68,510 shares of Scholar Rock stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the sale, the insider now owns 111,084 shares in the company, valued at approximately $4,154,541.60. This represents a 38.15 % decrease in their ownership of the stock. 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 90 days. 13.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an "outperform" rating and issued 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 has an average rating of "Buy" and a consensus price target of $42.67.

Scholar Rock Stock Performance

Shares of SRRK traded up $0.15 during mid-day trading on Friday, hitting $32.91. The stock had a trading volume of 1,339,190 shares, compared to its average volume of 1,258,816. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.12 billion, a PE ratio of -14.00 and a beta of 0.56. The company's fifty day simple moving average is $32.26 and its two-hundred day simple moving average is $35.78.

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.