Scribe Therapeutics (NASDAQ:SCTX – Get Free Report) was upgraded by research analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Several other analysts have also recently weighed in on the stock. Guggenheim started coverage on shares of Scribe Therapeutics in a report on Tuesday. They issued a “buy” rating and a $50.00 price target on the stock. Wall Street Zen raised shares of Scribe Therapeutics to a “hold” rating in a research report on Saturday, August 1st. Finally, Leerink Partners began coverage on shares of Scribe Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $37.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of $49.00.
Get Our Latest Stock Report on SCTX
Scribe Therapeutics Trading Up 27.9%
Insider Transactions at Scribe Therapeutics
In other news, major shareholder Bio Fund Ii L.P. Ah acquired 333,333 shares of the stock in a transaction on Monday, July 27th. The stock was acquired at an average price of $15.00 per share, with a total value of $4,999,995.00. Following the completion of the transaction, the insider owned 2,385,075 shares of the company’s stock, valued at $35,776,125. This represents a 16.25% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl L. Gordon acquired 1,000,000 shares of the stock in a transaction on Monday, July 27th. The shares were purchased at an average cost of $15.00 per share, with a total value of $15,000,000.00. Following the transaction, the director directly owned 1,348,825 shares of the company’s stock, valued at approximately $20,232,375. This trade represents a 286.68% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 3,727,237 shares of company stock worth $56,291,746.
About Scribe Therapeutics
Scribe Therapeutics Inc is a clinical-stage biotechnology company engineering CRISPR-based technologies into purpose-built in vivo genetic medicines designed to become standard of care treatments for patients suffering from highly prevalent diseases, starting with cardiometabolic disease. Scribe Therapeutics Inc is based in ALAMEDA, Calif.
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