American Century Companies Inc. Increases Stock Position in Scholar Rock Holding Corporation $SRRK

American Century Companies Inc. grew its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 663,927 shares of the company’s stock after acquiring an additional 6,960 shares during the quarter. American Century Companies Inc. owned about 0.70% of Scholar Rock worth $21,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SRRK. Wells Fargo & Company MN increased its position in shares of Scholar Rock by 58.7% during the 4th quarter. Wells Fargo & Company MN now owns 38,590 shares of the company’s stock valued at $1,668,000 after purchasing an additional 14,274 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Scholar Rock during the 4th quarter valued at about $2,625,000. Guggenheim Capital LLC purchased a new stake in shares of Scholar Rock during the 4th quarter valued at about $322,000. CANADA LIFE ASSURANCE Co increased its position in shares of Scholar Rock by 347.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 16,888 shares of the company’s stock valued at $729,000 after purchasing an additional 13,111 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Scholar Rock by 16.8% during the 4th quarter. MetLife Investment Management LLC now owns 46,667 shares of the company’s stock valued at $2,017,000 after purchasing an additional 6,701 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $35.49 on Friday. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The stock has a 50-day moving average price of $35.71 and a 200 day moving average price of $33.79. The stock has a market capitalization of $3.41 billion, a P/E ratio of -12.20 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK) last released 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 period in the previous year, the firm posted ($0.60) earnings per share. Equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SRRK shares. Jefferies Financial Group started coverage on shares of Scholar Rock in a research report on Thursday. They set a “buy” rating and a $50.00 price target for the company. BMO Capital Markets lowered their price objective on Scholar Rock from $57.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a research 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 research report on Wednesday, July 30th. Finally, Cantor Fitzgerald initiated coverage on Scholar Rock in a research report on Thursday, July 17th. They set an “overweight” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $45.75.

Insider Activity

In other news, Director Joshua Reed sold 5,400 shares of Scholar Rock stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the sale, the director owned 15,732 shares in the company, valued at $467,555.04. This trade represents a 25.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mo Qatanani sold 24,066 shares of Scholar Rock stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total transaction of $828,833.04. Following the sale, the insider owned 115,495 shares in the company, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,654 shares of company stock valued at $3,101,811. Company insiders own 13.30% of the company’s stock.

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.