Raymond James Financial Inc. Purchases New Shares in Scholar Rock Holding Co. (NASDAQ:SRRK)

Raymond James Financial Inc. purchased a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted 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 worth $12,361,000 after acquiring an additional 120,489 shares in the last quarter. Barclays PLC boosted its holdings in Scholar Rock by 103.4% in 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. Vanguard Group Inc. boosted its holdings in Scholar Rock by 17.6% in the fourth quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock worth $205,013,000 after acquiring an additional 708,817 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Scholar Rock in the fourth quarter worth $274,000. Finally, Rhumbline Advisers boosted its holdings in Scholar Rock by 13.2% in the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company’s stock worth $4,895,000 after acquiring an additional 13,247 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Trading Up 3.5 %

Scholar Rock stock opened at $32.77 on Wednesday. Scholar Rock Holding Co. has a one year low of $6.76 and a one year high of $46.98. The business’s fifty day moving average is $32.51 and its 200 day moving average is $35.74. 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 has a market capitalization of $3.11 billion, a PE ratio of -13.94 and a beta of 0.56.

Insider Buying and Selling at Scholar Rock

In other news, insider Mo Qatanani sold 68,510 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.40, for a total value of $2,562,274.00. Following the transaction, the insider now owns 111,084 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracey Sacco sold 6,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the transaction, the insider now directly owns 71,750 shares in the company, valued at $2,373,490. This trade represents a 8.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,231 shares of company stock valued at $9,220,236. 13.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued an “outperform” rating and issued a $50.00 target price 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 stock currently has an average rating of “Buy” and an average target price of $42.67.

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.