American Century Companies Inc. Makes New Investment in Scholar Rock Holding Co. (NASDAQ:SRRK)

American Century Companies Inc. bought a new stake in Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 656,967 shares of the company's stock, valued at approximately $28,394,000. American Century Companies Inc. owned about 0.70% of Scholar Rock at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SRRK. Teacher Retirement System of Texas lifted its stake in Scholar Rock by 58.1% in the fourth quarter. Teacher Retirement System of Texas now owns 17,390 shares of the company's stock valued at $752,000 after buying an additional 6,388 shares during the last quarter. Xponance Inc. purchased a new stake in Scholar Rock in the 4th quarter valued at $241,000. Cibc World Markets Corp acquired a new stake in Scholar Rock during the 4th quarter worth $314,000. Corient Private Wealth LLC purchased a new position in Scholar Rock during the 4th quarter worth $394,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Scholar Rock in the fourth quarter valued at $1,227,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jay T. Backstrom sold 22,308 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $44.20, for a total transaction of $986,013.60. Following the sale, the chief executive officer now owns 330,363 shares of the company's stock, valued at $14,602,044.60. The trade was a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracey Sacco sold 6,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.08, for a total value of $215,020.00. Following the completion of the sale, the insider now owns 71,750 shares in the company, valued at approximately $2,373,490. This represents a 8.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 299,772 shares of company stock valued at $11,245,798 in the last three months. 19.20% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

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

Scholar Rock Stock Performance

NASDAQ SRRK traded up $2.48 during trading hours on Wednesday, hitting $32.54. 1,460,565 shares of the stock were exchanged, compared to its average volume of 1,181,243. Scholar Rock Holding Co. has a 12-month low of $6.76 and a 12-month high of $46.98. The stock has a 50-day moving average of $36.94 and a 200 day moving average of $33.54. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -13.85 and a beta of 0.59. 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 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.