Wells Fargo & Company MN Raises Stock Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Wells Fargo & Company MN raised its stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 58.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,590 shares of the company's stock after purchasing an additional 14,274 shares during the period. Wells Fargo & Company MN's holdings in Scholar Rock were worth $1,668,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Scholar Rock during the fourth quarter worth $86,043,000. Wellington Management Group LLP lifted its position 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 worth $74,581,000 after buying an additional 1,525,845 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Scholar Rock during the fourth quarter valued at approximately $33,567,000. Vanguard Group Inc. grew its holdings in Scholar Rock by 17.6% during the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company's stock valued at $205,013,000 after buying an additional 708,817 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Scholar Rock during the 4th quarter worth approximately $28,394,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Trading Up 0.7 %

Shares of SRRK traded up $0.24 during midday trading on Thursday, hitting $33.15. The stock had a trading volume of 294,232 shares, compared to its average volume of 1,252,833. Scholar Rock Holding Co. has a 1 year low of $6.76 and a 1 year high of $46.98. 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 $32.42 and its 200 day moving average is $35.72. The firm has a market cap of $3.14 billion, a PE ratio of -14.04 and a beta of 0.56.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an "outperform" rating and set 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, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $42.67.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 7,809 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total transaction of $287,605.47. Following the transaction, the chief financial officer now directly owns 140,740 shares in the company, valued at approximately $5,183,454.20. This trade represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katie Peng sold 1,006 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.42, for a total value of $34,626.52. Following the completion of the transaction, the director now directly owns 30,319 shares of the company's stock, valued at approximately $1,043,579.98. The trade was a 3.21 % 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. Insiders own 13.30% of the company's stock.

About Scholar Rock

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.