Dynamic Technology Lab Private Ltd Invests $458,000 in Scholar Rock Holding Corporation $SRRK

Key Points

• Dynamic Technology Lab Private Ltd has acquired 14,240 shares of Scholar Rock Holding Corporation, valued at approximately $458,000, as reported in its Form 13F filing.
• Scholar Rock Holding Corporation's recent earnings report revealed an EPS of ($0.98), missing the consensus estimate by ($0.32).
• Investors exhibit strong interest in Scholar Rock, with a consensus rating of "Buy" and a price target of $45.75 from analysts.

Dynamic Technology Lab Private Ltd bought a new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,240 shares of the company's stock, valued at approximately $458,000.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after purchasing an additional 602 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Scholar Rock during the fourth quarter worth about $85,000. Federated Hermes Inc. acquired a new stake in Scholar Rock during the first quarter worth about $71,000. Tema Etfs LLC acquired a new stake in Scholar Rock during the fourth quarter worth about $209,000. Finally, Mackenzie Financial Corp acquired a new stake in Scholar Rock during the fourth quarter worth about $212,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on SRRK. Jefferies Financial Group began coverage on Scholar Rock in a research note on Thursday, August 21st. They set a "buy" rating and a $50.00 price target for the company. BMO Capital Markets dropped their price target on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Cantor Fitzgerald began coverage on Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating for the company. Raymond James Financial set a $53.00 price target on Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Wedbush restated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and a consensus target price of $45.75.

Insider Transactions at Scholar Rock

In related news, Director Jeffrey S. Flier sold 20,316 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $32.24, for a total value of $654,987.84. Following the completion of the transaction, the director owned 24,070 shares of the company's stock, valued at approximately $776,016.80. This represents a 45.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mo Qatanani sold 24,066 shares of the stock in a transaction dated 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 transaction, the insider directly owned 115,495 shares of the company's stock, valued at $3,977,647.80. This represents a 17.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,654 shares of company stock valued at $2,299,310 in the last three months. 13.30% of the stock is currently owned by company insiders.

Scholar Rock Stock Down 0.5%

Shares of NASDAQ SRRK traded down $0.17 on Friday, hitting $31.67. The company had a trading volume of 1,264,428 shares, compared to its average volume of 1,780,786. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The business has a 50 day moving average of $35.11 and a two-hundred day moving average of $33.25. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.04 billion, a P/E ratio of -10.88 and a beta of 0.36.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period in the prior year, the firm earned ($0.60) earnings per share. As a group, equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share 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.