Ameriprise Financial Inc. Has $813,000 Holdings in Scholar Rock Holding Co. (NASDAQ:SRRK)

Ameriprise Financial Inc. raised its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 79.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,816 shares of the company’s stock after acquiring an additional 8,331 shares during the period. Ameriprise Financial Inc.’s holdings in Scholar Rock were worth $813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV bought a new stake in Scholar Rock in the 4th quarter valued at $131,000. Rhumbline Advisers boosted its position in shares of Scholar Rock by 13.2% in the fourth quarter. Rhumbline Advisers now owns 113,261 shares of the company’s stock valued at $4,895,000 after acquiring an additional 13,247 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Scholar Rock in the fourth quarter valued at about $274,000. New York State Common Retirement Fund grew its stake in shares of Scholar Rock by 117.5% in the fourth quarter. New York State Common Retirement Fund now owns 22,586 shares of the company’s stock valued at $976,000 after acquiring an additional 12,200 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in Scholar Rock by 584.7% during the fourth quarter. Global Retirement Partners LLC now owns 897 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Buying and Selling

In related news, insider Tracey Sacco sold 6,500 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.08, for a total value of $215,020.00. Following the sale, the insider now owns 71,750 shares of the company’s stock, valued at $2,373,490. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.42, for a total value of $34,626.52. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 181,798 shares of company stock worth $6,284,738 in the last 90 days. Insiders own 13.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $42.67.

Scholar Rock Trading Up 2.6%

Shares of SRRK opened at $29.76 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a 52-week low of $6.76 and a 52-week high of $46.98. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -12.66 and a beta of 0.37. The business’s fifty day moving average is $30.33 and its 200-day moving average is $36.12.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). During the same period in the previous year, the company earned ($0.59) EPS. Equities analysts anticipate that Scholar Rock Holding Co. will post -2.42 EPS for the current fiscal year.

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.