Scribe Therapeutics (NASDAQ:SCTX) Research Coverage Started at Leerink Partners

Leerink Partners initiated coverage on shares of Scribe Therapeutics (NASDAQ:SCTX) in a report issued on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $37.00 price objective on the stock.

Several other equities analysts also recently issued reports on the company. Wall Street Zen raised Scribe Therapeutics to a “hold” rating in a research report on Saturday, August 1st. Guggenheim began coverage on Scribe Therapeutics in a research report on Tuesday. They set a “buy” rating and a $50.00 price target for the company. Finally, Wells Fargo & Company assumed coverage on Scribe Therapeutics in a research note on Tuesday. They set an “overweight” rating and a $60.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $49.00.

Scribe Therapeutics Trading Up 5.7%

NASDAQ:SCTX opened at $32.83 on Tuesday. Scribe Therapeutics has a 12 month low of $17.31 and a 12 month high of $39.60.

Insider Buying and Selling

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 bought 2,666 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average cost of $15.00 per share, for a total transaction of $39,990.00. Following the completion of the acquisition, the chief financial officer owned 1,333 shares of the company’s stock, valued at $19,995. This trade represents a -200.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 3,727,237 shares of company stock worth $56,291,746.

Scribe Therapeutics Company Profile

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.