LPL Financial LLC Sells 26,709 Shares of Scholar Rock Holding Co. (NASDAQ:SRRK)

LPL Financial LLC lowered its position in Scholar Rock Holding Co. (NASDAQ:SRRK) by 66.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,659 shares of the company’s stock after selling 26,709 shares during the period. LPL Financial LLC’s holdings in Scholar Rock were worth $590,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Scholar Rock by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock valued at $12,361,000 after buying an additional 120,489 shares during the period. American Century Companies Inc. acquired a new position in shares of Scholar Rock in the 4th quarter valued at about $28,394,000. Charles Schwab Investment Management Inc. boosted its position in shares of Scholar Rock by 23.8% during the 4th 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Scholar Rock by 15.6% during the 4th quarter. Bank of New York Mellon Corp now owns 207,492 shares of the company’s stock valued at $8,968,000 after purchasing an additional 27,930 shares in the last quarter. Finally, Barclays PLC grew its stake 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 purchasing an additional 84,118 shares during the period. 91.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.42, for a total value of $34,626.52. Following the transaction, the director now directly owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This trade represents a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mo Qatanani sold 68,510 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total transaction of $2,562,274.00. Following the sale, the insider now directly owns 111,084 shares of the company’s stock, 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. Over the last quarter, insiders sold 250,231 shares of company stock valued at $9,056,086. Company insiders own 19.20% of the company’s stock.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $32.59 on Thursday. The business has a 50-day simple moving average of $32.90 and a 200 day simple moving average of $35.58. Scholar Rock Holding Co. has a one year low of $6.76 and a one 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 firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -13.87 and a beta of 0.56.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus 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.