Scribe Therapeutics (NASDAQ:SCTX) Upgraded by Guggenheim to “Strong-Buy” Rating

Guggenheim upgraded shares of Scribe Therapeutics (NASDAQ:SCTX) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on SCTX. Wells Fargo & Company began coverage on Scribe Therapeutics in a research note on Tuesday. They issued an “overweight” rating and a $60.00 price objective for the company. Wall Street Zen upgraded Scribe Therapeutics to a “hold” rating in a research report on Saturday, August 1st. Finally, Leerink Partners started coverage on shares of Scribe Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $37.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and a consensus target price of $49.00.

Scribe Therapeutics Trading Up 27.9%

NASDAQ:SCTX opened at $27.11 on Tuesday. Scribe Therapeutics has a 12 month low of $17.31 and a 12 month high of $27.75.

Insider Buying and Selling at Scribe Therapeutics

In related news, major shareholder Bio Fund Ii L.P. Ah bought 333,333 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average cost of $15.00 per share, with a total value of $4,999,995.00. Following the completion of the acquisition, the insider directly owned 2,385,075 shares in the company, valued at approximately $35,776,125. The trade was a 16.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Parrot purchased 2,666 shares of Scribe Therapeutics stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average price of $15.00 per share, with a total value of $39,990.00. Following the completion of the transaction, the chief financial officer owned 1,333 shares of the company’s stock, valued at $19,995. This represents a -200.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 3,727,237 shares of company stock valued at $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.