Bank of America Corp DE Cuts Stock Position in Scholar Rock Holding Co. (NASDAQ:SRRK)

Bank of America Corp DE cut its holdings in shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) by 66.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,695 shares of the company's stock after selling 365,028 shares during the period. Bank of America Corp DE owned about 0.20% of Scholar Rock worth $7,896,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC increased its stake 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 purchasing an additional 766 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Scholar Rock by 1,321.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company's stock worth $48,000 after buying an additional 1,031 shares during the period. Amalgamated Bank increased its stake in shares of Scholar Rock by 30.6% during the fourth quarter. Amalgamated Bank now owns 2,643 shares of the company's stock worth $114,000 after buying an additional 620 shares during the period. KBC Group NV purchased a new stake in shares of Scholar Rock during the fourth quarter worth approximately $131,000. Finally, NEOS Investment Management LLC purchased a new stake in shares of Scholar Rock during the fourth quarter worth approximately $209,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, May 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $42.67.

Insider Transactions at Scholar Rock

In other news, Director Katie Peng sold 1,006 shares of the stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tracey Sacco sold 5,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $32.83, for a total value of $164,150.00. Following the completion of the sale, the insider now directly owns 71,750 shares of the company's stock, valued at $2,355,552.50. The trade was a 6.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,798 shares of company stock worth $5,482,238. Corporate insiders own 13.30% of the company's stock.

Scholar Rock Stock Down 5.3%

SRRK traded down $1.61 on Wednesday, reaching $28.86. The company's stock had a trading volume of 1,456,907 shares, compared to its average volume of 1,271,272. The stock has a 50 day moving average of $30.63 and a two-hundred day moving average of $36.00. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -12.28 and a beta of 0.37. Scholar Rock Holding Co. has a fifty-two week low of $6.76 and a fifty-two week high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter in the previous year, the business earned ($0.59) earnings per share. As a group, analysts forecast that Scholar Rock Holding Co. will post -2.42 EPS for the current fiscal year.

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.