XTX Topco Ltd Buys New Stake in Scholar Rock Holding Corporation (NASDAQ:SRRK)

Key Points

• XTX Topco Ltd has acquired a new stake in Scholar Rock Holding Corporation, purchasing 13,127 shares valued at approximately $422,000 during the first quarter of the year.
• Scholar Rock's stock has seen significant increases in institutional ownership, with 91.08% of its stock now owned by institutional investors and several firms, including Alliancebernstein, upping their stakes.
• The company's recent quarterly earnings report showed a loss of ($0.98) earnings per share, missing analysts' estimates, and the average price target for Scholar Rock stock stands at $45.14 according to analysts' ratings.

XTX Topco Ltd bought a new stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,127 shares of the company's stock, valued at approximately $422,000.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its position in Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after purchasing an additional 602 shares during the period. Federated Hermes Inc. purchased a new stake in Scholar Rock in the 1st quarter worth about $71,000. GF Fund Management CO. LTD. raised its position in Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after purchasing an additional 430 shares during the period. Tema Etfs LLC purchased a new position in shares of Scholar Rock during the fourth quarter worth approximately $209,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Scholar Rock during the fourth quarter worth approximately $212,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 2.3%

NASDAQ SRRK traded up $0.72 on Tuesday, hitting $32.18. The stock had a trading volume of 1,016,415 shares, compared to its average volume of 1,223,111. The business's fifty day moving average price is $35.78 and its 200 day moving average price is $34.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -11.06 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period last year, the firm earned ($0.60) EPS. Equities research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SRRK. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald began coverage on shares of Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating on the stock. Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, June 18th. BMO Capital Markets reduced their target price on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Finally, Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $45.14.

Insiders Place Their Bets

In other news, Director Joshua Reed sold 5,400 shares of Scholar Rock stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the completion of the sale, the director directly owned 15,732 shares in the company, valued at approximately $467,555.04. The trade was a 25.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Akshay Vaishnaw sold 6,750 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $200,610.00. Following the sale, the insider owned 616,205 shares in the company, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,654 shares of company stock valued at $3,101,811. 13.30% of the stock is currently owned by company insiders.

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.