Scholar Rock Holding Co. (NASDAQ:SRRK) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,492 shares of the company's stock after buying an additional 27,930 shares during the period. Bank of New York Mellon Corp owned about 0.22% of Scholar Rock worth $8,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRRK. Fisher Asset Management LLC lifted its position in Scholar Rock by 593.6% during the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company's stock valued at $5,879,000 after buying an additional 628,186 shares in the last quarter. FMR LLC lifted its position in Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company's stock valued at $81,670,000 after buying an additional 308,813 shares in the last quarter. Sphera Funds Management LTD. acquired a new position in Scholar Rock during the third quarter valued at approximately $1,337,000. Exome Asset Management LLC acquired a new position in Scholar Rock during the third quarter valued at approximately $1,115,000. Finally, Geode Capital Management LLC lifted its position in Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company's stock valued at $12,361,000 after buying an additional 120,489 shares in the last quarter. 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 recent research reports. Wedbush reaffirmed an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research report on Monday. Truist Financial boosted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, HC Wainwright boosted their target price on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $40.86.

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Insider Transactions at Scholar Rock

In other news, CEO Jay T. Backstrom sold 22,308 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total transaction of $986,013.60. Following the completion of the transaction, the chief executive officer now owns 330,363 shares in the company, valued at approximately $14,602,044.60. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 142,292 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the transaction, the chief financial officer now owns 111,345 shares of the company's stock, valued at $3,966,108.90. This represents a 56.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 292,266 shares of company stock worth $10,996,151. Insiders own 19.20% of the company's stock.

Scholar Rock Stock Performance

SRRK stock traded down $0.84 during trading on Tuesday, hitting $33.88. 881,078 shares of the company's stock traded hands, compared to its average volume of 1,153,535. The stock has a fifty day moving average price of $39.30 and a two-hundred day moving average price of $31.68. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -14.42 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 Holding Co. has a 52 week low of $6.76 and a 52 week high of $46.98.

About Scholar Rock

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.