Wall Street Zen Upgrades Scribe Therapeutics (NASDAQ:SCTX) to Hold

Scribe Therapeutics (NASDAQ:SCTX) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

Scribe Therapeutics Stock Performance

SCTX opened at $19.48 on Friday. Scribe Therapeutics has a twelve month low of $17.31 and a twelve month high of $25.49.

Insider Activity at Scribe Therapeutics

In related news, major shareholder Bio Fund Ii L.P. Ah bought 333,333 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,999,995.00. Following the purchase, the insider owned 2,385,075 shares in the company, valued at approximately $35,776,125. This represents a 16.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl L. Gordon purchased 1,000,000 shares of the stock in a transaction dated Monday, July 27th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the director directly owned 1,348,825 shares in the company, valued at approximately $20,232,375. This trade represents a 286.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 3,727,237 shares of company stock valued at $56,291,746 in the last quarter.