Bank of New York Mellon Corp Acquires New Shares in Scholar Rock Holding Corporation $SRRK

Bank of New York Mellon Corp bought a new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 365,218 shares of the company's stock, valued at approximately $20,087,000. Bank of New York Mellon Corp owned 0.30% of Scholar Rock as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC boosted its position in shares of Scholar Rock by 609.3% during the first quarter. AQR Capital Management LLC now owns 57,294 shares of the company's stock worth $1,842,000 after buying an additional 49,217 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Scholar Rock by 12.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company's stock worth $1,709,000 after purchasing an additional 5,831 shares during the period. Millennium Management LLC lifted its position in shares of Scholar Rock by 37.4% during the first quarter. Millennium Management LLC now owns 200,255 shares of the company's stock worth $6,438,000 after purchasing an additional 54,555 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Scholar Rock by 25.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company's stock worth $5,460,000 after purchasing an additional 34,594 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Scholar Rock in the first quarter valued at approximately $77,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on Scholar Rock from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Wedbush restated an "outperform" rating and set a $64.00 target price on shares of Scholar Rock in a research note on Friday, August 21st. BMO Capital Markets reaffirmed an "outperform" rating and issued a $76.00 target price on shares of Scholar Rock in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Scholar Rock from $56.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Finally, HC Wainwright reiterated a "buy" rating and issued a $65.00 price target on shares of Scholar Rock in a research note on Monday, August 10th. Four analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Scholar Rock presently has a consensus rating of "Buy" and an average price target of $58.77.

Insider Activity

In related news, Director Katie Peng sold 5,446 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total transaction of $293,430.48. Following the transaction, the director owned 34,301 shares of the company's stock, valued at approximately $1,848,137.88. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the sale, the director owned 27,856 shares in the company, valued at approximately $1,500,881.28. This trade represents a 9.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is owned by corporate insiders.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $57.80 on Monday. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.77. Scholar Rock Holding Corporation has a fifty-two week low of $27.07 and a fifty-two week high of $61.76. The stock has a market cap of $7.04 billion, a PE ratio of -16.75 and a beta of 0.69. The firm's fifty day simple moving average is $53.07 and its 200-day simple moving average is $48.90.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.84). During the same period last year, the firm posted ($0.98) earnings per share. Analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company's research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock's approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company's lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).

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