Driehaus Capital Management LLC acquired a new position in Scholar Rock Holding Co. (NASDAQ:SRRK – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 516,005 shares of the company’s stock, valued at approximately $22,302,000.
Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Scholar Rock by 584.7% in the 4th quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after purchasing an additional 1,031 shares during the period. Amalgamated Bank grew its holdings in Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company’s stock valued at $114,000 after purchasing an additional 620 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Scholar Rock in the fourth quarter valued at approximately $131,000. 91.08% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Katie Peng sold 1,006 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.42, for a total transaction of $34,626.52. Following the completion of the transaction, the director now owns 30,319 shares of the company’s stock, valued at approximately $1,043,579.98. This represents a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of Scholar Rock stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $35.62, for a total value of $5,068,441.04. Following the sale, the chief financial officer now directly owns 111,345 shares in the company, valued at approximately $3,966,108.90. This trade represents a 56.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders 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
Read Our Latest Stock Analysis on Scholar Rock
Scholar Rock Stock Performance
SRRK opened at $31.06 on Friday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $31.75 and its two-hundred day moving average price is $35.81. The firm has a market capitalization of $2.95 billion, a P/E ratio of -13.22 and a beta of 0.37. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98.
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.
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