Driehaus Capital Management LLC Takes $22.30 Million Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Driehaus Capital Management LLC acquired a new position in Scholar Rock Holding Co. (NASDAQ:SRRK) 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

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

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.