Kennedy Capital Management LLC Makes New Investment in Scholar Rock Holding Co. (NASDAQ:SRRK)

Kennedy Capital Management LLC bought a new position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 275,894 shares of the company’s stock, valued at approximately $4,900,000. Kennedy Capital Management LLC owned 0.35% of Scholar Rock at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Amalgamated Bank raised its stake in Scholar Rock by 15.5% during the fourth quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock worth $92,000 after purchasing an additional 652 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Scholar Rock by 479.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock valued at $157,000 after acquiring an additional 6,905 shares during the period. Spire Wealth Management purchased a new stake in shares of Scholar Rock in the 4th quarter valued at approximately $178,000. Arizona State Retirement System raised its stake in shares of Scholar Rock by 27.5% in the 4th quarter. Arizona State Retirement System now owns 13,796 shares of the company’s stock valued at $259,000 after acquiring an additional 2,976 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Scholar Rock in the 1st quarter valued at approximately $258,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Scholar Rock news, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Edward H. Myles sold 9,458 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $84,932.84. Following the completion of the transaction, the chief financial officer now owns 201,518 shares in the company, valued at approximately $1,809,631.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The disclosure for this sale can be found here. Insiders sold 16,468 shares of company stock worth $147,883 in the last 90 days. Corporate insiders own 26.20% of the company’s stock.

Scholar Rock Stock Up 0.3 %

NASDAQ SRRK traded up $0.03 on Tuesday, hitting $9.18. 634,872 shares of the stock were exchanged, compared to its average volume of 842,512. The company has a current ratio of 6.58, a quick ratio of 6.58 and a debt-to-equity ratio of 0.24. Scholar Rock Holding Co. has a fifty-two week low of $5.93 and a fifty-two week high of $21.17. The company has a 50-day moving average price of $9.10 and a 200-day moving average price of $13.01.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the prior year, the business posted ($0.46) EPS. As a group, equities analysts predict that Scholar Rock Holding Co. will post -2.4 EPS for the current year.

Analysts Set New Price Targets

SRRK has been the topic of a number of research analyst reports. Truist Financial reissued a “buy” rating and issued a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Tuesday, May 7th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, June 25th. Finally, BMO Capital Markets lifted their price objective on shares of Scholar Rock from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and a consensus target price of $26.00.

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.