Scribe Therapeutics Inc. (NASDAQ:SCTX) Short Interest Update

Scribe Therapeutics Inc. (NASDAQ:SCTX) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 263,070 shares, an increase of ? from the July 15th total of 0 shares. Based on an average trading volume of 195,886 shares, the short-interest ratio is currently 1.3 days. Currently, 1.5% of the shares of the company are short sold.

Insiders Place Their Bets

In other Scribe Therapeutics news, Director Behzad Aghazadeh purchased 7,905 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was acquired at an average price of $18.25 per share, with a total value of $144,266.25. Following the acquisition, the director directly owned 3,088,888 shares of the company’s stock, valued at $56,372,206. This trade represents a 0.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl L. Gordon acquired 1,000,000 shares of Scribe Therapeutics stock in a transaction on Monday, July 27th. The shares were bought at an average cost of $15.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 3,727,237 shares of company stock worth $56,291,746 in the last quarter.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Scribe Therapeutics to a “hold” rating in a research note on Saturday, August 1st.

Scribe Therapeutics Stock Performance

Shares of SCTX stock opened at $20.73 on Friday. Scribe Therapeutics has a 1 year low of $17.31 and a 1 year high of $26.50.

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.