Bank of New York Mellon Corp Has $6.95 Million Stock Position in Scholar Rock Holding Corporation (NASDAQ:SRRK)

Bank of New York Mellon Corp raised its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 216,223 shares of the company's stock after acquiring an additional 8,731 shares during the period. Bank of New York Mellon Corp owned approximately 0.23% of Scholar Rock worth $6,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GF Fund Management CO. LTD. increased its stake in shares of Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after buying an additional 430 shares during the period. Summit Investment Advisors Inc. raised its stake in Scholar Rock by 16.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company's stock valued at $350,000 after purchasing an additional 1,170 shares during the last quarter. Corebridge Financial Inc. grew its holdings in Scholar Rock by 5.2% in the 4th quarter. Corebridge Financial Inc. now owns 38,539 shares of the company's stock valued at $1,666,000 after buying an additional 1,915 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Scholar Rock by 11.1% during the 1st quarter. SG Americas Securities LLC now owns 24,122 shares of the company's stock worth $776,000 after purchasing an additional 2,412 shares during the period. Finally, E. Ohman J or Asset Management AB grew its holdings in shares of Scholar Rock by 6.9% during the 1st quarter. E. Ohman J or Asset Management AB now owns 57,185 shares of the company's stock worth $1,838,000 after purchasing an additional 3,685 shares during the period. Hedge funds and other institutional investors own 91.08% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael Gilman sold 3,375 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $100,305.00. Following the sale, the director directly owned 55,216 shares in the company, valued at $1,641,019.52. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the completion of the sale, the insider owned 115,495 shares in the company, valued at $3,977,647.80. This represents a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,654 shares of company stock valued at $3,101,811. Insiders own 13.30% of the company's stock.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK traded down $0.16 on Friday, hitting $38.95. The company had a trading volume of 853,033 shares, compared to its average volume of 1,183,487. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.16. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98. The business has a 50 day moving average of $34.62 and a 200 day moving average of $35.00. The company has a market cap of $3.70 billion, a PE ratio of -15.40 and a beta of 0.33.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same quarter last year, the firm posted ($0.59) earnings per share. As a group, equities analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SRRK. Wedbush reiterated an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, June 18th. Cantor Fitzgerald began coverage on Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating on the stock. Finally, Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Scholar Rock has a consensus rating of "Buy" and a consensus price target of $42.67.

Scholar Rock 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.