Baird Financial Group Inc. Takes Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Baird Financial Group Inc. bought a new stake in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 31,904 shares of the company’s stock, valued at approximately $1,379,000.

Several other large investors have also recently modified their holdings of SRRK. FMR LLC increased its position in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock valued at $589,316,000 after purchasing an additional 3,439,215 shares during the last quarter. Marshall Wace LLP boosted its holdings in Scholar Rock by 1,283.7% during the 4th quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock valued at $127,301,000 after acquiring an additional 2,732,546 shares during the period. Norges Bank purchased a new position in Scholar Rock during the 4th quarter valued at $86,043,000. Adage Capital Partners GP L.L.C. purchased a new position in Scholar Rock during the 4th quarter valued at $68,930,000. Finally, Wellington Management Group LLP boosted its holdings in Scholar Rock by 763.8% during the 4th quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock valued at $74,581,000 after acquiring an additional 1,525,845 shares during the period. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Price Performance

Shares of SRRK stock opened at $31.40 on Wednesday. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -13.36 and a beta of 0.37. The stock has a fifty day simple moving average of $31.46 and a two-hundred day simple moving average of $35.91. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

Analysts Set New Price Targets

Separately, Wedbush restated an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and an average target price of $42.67.

Insiders Place Their Bets

In other Scholar Rock news, insider Mo Qatanani sold 68,510 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 111,084 shares in the company, valued at approximately $4,154,541.60. This represents a 38.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the company’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 sale, the director now owns 30,319 shares of the company’s stock, valued at $1,043,579.98. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,231 shares of company stock worth $9,220,236. 13.30% of the stock is currently owned by company insiders.

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.