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

Bank of America Corp DE reduced its position in shares of Scholar Rock Holding Co. (NASDAQ:SRRK) by 66.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,695 shares of the company’s stock after selling 365,028 shares during the period. Bank of America Corp DE owned 0.20% of Scholar Rock worth $7,896,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SRRK. FMR LLC increased its holdings in shares of Scholar Rock by 33.7% during the 4th quarter. FMR LLC now owns 13,635,261 shares of the company’s stock worth $589,316,000 after buying an additional 3,439,215 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Scholar Rock by 7.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,283,421 shares of the company’s stock valued at $401,231,000 after purchasing an additional 629,315 shares during the last quarter. Vanguard Group Inc. boosted its stake in Scholar Rock by 17.6% during the 4th quarter. Vanguard Group Inc. now owns 4,743,482 shares of the company’s stock valued at $205,013,000 after acquiring an additional 708,817 shares during the last quarter. Marshall Wace LLP increased its holdings in Scholar Rock by 1,283.7% in the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock valued at $127,301,000 after buying an additional 2,732,546 shares during the last quarter. Finally, Norges Bank bought a new position in Scholar Rock during the fourth quarter worth $86,043,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 142,292 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $35.62, for a total transaction of $5,068,441.04. Following the completion of the transaction, the chief financial officer now owns 111,345 shares of the company’s stock, valued at $3,966,108.90. The trade was a 56.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were 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 $1,043,579.98. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,798 shares of company stock valued at $5,482,238. 13.30% of the stock is currently owned by corporate insiders.

Scholar Rock Trading Down 1.5%

Shares of NASDAQ SRRK opened at $30.00 on Monday. 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 cap of $2.85 billion, a price-to-earnings ratio of -12.77 and a beta of 0.37. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.98. The business has a fifty day simple moving average of $30.77 and a 200-day simple moving average of $36.03.

Scholar Rock (NASDAQ:SRRK) last posted 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 period last year, the firm earned ($0.59) EPS. Sell-side analysts predict that Scholar Rock Holding Co. will post -2.42 EPS for the current year.

Analyst Ratings Changes

Separately, Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, May 14th. Six equities 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 an average 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.