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

Driehaus Capital Management LLC purchased a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 516,005 shares of the company's stock, valued at approximately $22,302,000. Driehaus Capital Management LLC owned about 0.55% of Scholar Rock at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in 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 raised its stake 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 purchasing an additional 2,732,546 shares during the period. Norges Bank purchased a new position in Scholar Rock during the fourth quarter valued at $86,043,000. Adage Capital Partners GP L.L.C. bought a new position in Scholar Rock during the fourth quarter valued at approximately $68,930,000. Finally, Wellington Management Group LLP raised its stake in Scholar Rock by 763.8% during the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock valued at $74,581,000 after purchasing an additional 1,525,845 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $42.67.

Insider Activity at Scholar Rock

In other news, General Counsel Junlin Ho sold 5,742 shares of Scholar Rock stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $211,477.86. Following the transaction, the general counsel now directly owns 189,295 shares of the company's stock, valued at $6,971,734.85. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Edward H. Myles sold 7,809 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $36.83, for a total value of $287,605.47. Following the completion of the sale, the chief financial officer now directly owns 140,740 shares in the company, valued at $5,183,454.20. This trade represents a 5.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,231 shares of company stock worth $9,220,236 in the last quarter. Company insiders own 13.30% of the company's stock.

Scholar Rock Stock Down 1.8%

Scholar Rock stock traded down $0.57 during mid-day trading on Wednesday, reaching $30.83. 839,173 shares of the company's stock were exchanged, compared to its average volume of 1,267,631. The company has a fifty day moving average of $31.46 and a 200-day moving average of $35.91. The company has a market cap of $2.92 billion, a P/E ratio of -13.12 and a beta of 0.37. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock Holding Co. has a twelve month low of $6.76 and a twelve month high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). Sell-side analysts expect that Scholar Rock Holding Co. will post -2.42 EPS for the current year.

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.