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

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

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock worth $12,361,000 after acquiring an additional 120,489 shares in the last quarter. Barclays PLC raised its position in shares of 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 purchasing an additional 84,118 shares during the period. Vanguard Group Inc. lifted its holdings 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 worth $205,013,000 after purchasing an additional 708,817 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Scholar Rock in the 4th quarter valued at $274,000. Finally, Rhumbline Advisers increased its stake in Scholar Rock by 13.2% during the 4th quarter. Rhumbline Advisers now owns 113,261 shares of the company's stock valued at $4,895,000 after purchasing an additional 13,247 shares in the last quarter. Institutional investors own 91.08% of the company's stock.

Insiders Place Their Bets

In related news, insider Mo Qatanani sold 68,510 shares of the firm's 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 completion of the sale, the insider now owns 111,084 shares in the company, valued at approximately $4,154,541.60. This trade represents a 38.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jay T. Backstrom sold 18,372 shares of the business'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 $676,640.76. Following the completion of the transaction, the chief executive officer now owns 311,991 shares in the company, valued at approximately $11,490,628.53. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,231 shares of company stock valued at $9,220,236. Insiders own 13.30% of the company's stock.

Scholar Rock Stock Performance

Shares of Scholar Rock stock traded down $0.56 during mid-day trading on Monday, hitting $32.35. 44,986 shares of the stock were exchanged, compared to its average volume of 1,118,059. The company has a market capitalization of $3.07 billion, a P/E ratio of -13.74 and a beta of 0.37. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The company has a 50-day simple moving average of $32.26 and a 200 day simple moving average of $35.87. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98.

Analysts Set New Price Targets

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average 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.