AMI Asset Management Corp Invests $1.05 Million in Scholar Rock Holding Corporation $SRRK

Key Points

• AMI Asset Management Corp has invested approximately $1.05 million in Scholar Rock Holding Corporation, acquiring 29,601 shares of the company.
• Scholar Rock's stock has recently seen analysts maintain a generally positive outlook, with three analysts rating it a "Strong Buy" and a consensus target price of $46.40.
• The company reported a loss of $0.98 earnings per share in its latest earnings report, missing estimates, while institutional investors own approximately 91.08% of the stock.

AMI Asset Management Corp bought a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 29,601 shares of the company's stock, valued at approximately $1,048,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Scholar Rock by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company's stock worth $155,773,000 after buying an additional 101,723 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Scholar Rock by 26.5% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,018,000 shares of the company's stock worth $64,879,000 after buying an additional 423,131 shares during the period. Wellington Management Group LLP raised its stake in shares of Scholar Rock by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company's stock worth $59,317,000 after buying an additional 119,375 shares during the period. Vestal Point Capital LP acquired a new position in shares of Scholar Rock during the 1st quarter worth approximately $41,795,000. Finally, RA Capital Management L.P. raised its stake in shares of Scholar Rock by 6,351.3% during the 1st quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company's stock worth $36,537,000 after buying an additional 1,118,837 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SRRK has been the topic of a number of research reports. Wedbush restated an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. HC Wainwright decreased their price objective on Scholar Rock from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, September 23rd. Jefferies Financial Group started coverage on Scholar Rock in a report on Thursday, August 21st. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, Leerink Partnrs upgraded Scholar Rock to a "strong-buy" rating in a report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat.com, Scholar Rock has an average rating of "Buy" and a consensus target price of $46.40.

Scholar Rock Stock Down 6.9%

Shares of NASDAQ:SRRK opened at $34.68 on Thursday. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $33.91 and a two-hundred day moving average of $33.12. The stock has a market cap of $3.33 billion, a P/E ratio of -11.92 and a beta of 0.42. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter in the prior year, the firm posted ($0.60) earnings per share. On average, research analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total value of $32,725.18. Following the completion of the sale, the director directly owned 33,914 shares in the company, valued at $1,103,222.42. This represents a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey S. Flier sold 11,136 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total value of $445,662.72. Following the transaction, the director owned 24,070 shares of the company's stock, valued at approximately $963,281.40. This represents a 31.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,739 shares of company stock worth $1,516,584 in the last three months. 13.30% of the stock is owned by corporate insiders.

Scholar Rock Company 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.

Want to see what other hedge funds are holding SRRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.