Scribe Therapeutics (NASDAQ:SCTX) Upgraded by Wells Fargo & Company to “Strong-Buy” Rating

Wells Fargo & Company upgraded shares of Scribe Therapeutics (NASDAQ:SCTX) to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on SCTX. Leerink Partners started coverage on Scribe Therapeutics in a report on Tuesday. They set an “outperform” rating and a $37.00 target price for the company. Guggenheim began coverage on shares of Scribe Therapeutics in a research note on Tuesday. They set a “buy” rating and a $50.00 price target on the stock. Finally, Wall Street Zen raised shares of Scribe Therapeutics to a “hold” rating in a research note on Saturday, August 1st. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, Scribe Therapeutics currently has an average rating of “Strong Buy” and an average price target of $49.00.

Scribe Therapeutics Stock Up 27.9%

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

Insider Buying and Selling

In related news, Director Carl L. Gordon purchased 1,000,000 shares of the business’s stock in a transaction on Monday, July 27th. The shares were bought at an average price of $15.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the director directly owned 1,348,825 shares in the company, valued at $20,232,375. This trade represents a 286.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Behzad Aghazadeh purchased 7,905 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average price of $18.25 per share, for a total transaction of $144,266.25. Following the acquisition, the director owned 3,088,888 shares in the company, valued at $56,372,206. This trade represents a 0.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 3,727,237 shares of company stock worth $56,291,746 over the last ninety days.

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.