Scribe Therapeutics Inc. (NASDAQ:SCTX) Receives Consensus Rating of “Moderate Buy” from Analysts

Scribe Therapeutics Inc. (NASDAQ:SCTX) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $51.75.

A number of brokerages have weighed in on SCTX. Zacks Research upgraded Scribe Therapeutics to a “hold” rating in a research note on Tuesday, September 1st. HC Wainwright started coverage on shares of Scribe Therapeutics in a report on Monday, August 31st. They issued a “buy” rating and a $60.00 price target on the stock. Wells Fargo & Company started coverage on shares of Scribe Therapeutics in a report on Tuesday, August 18th. They set an “overweight” rating and a $60.00 price objective for the company. Wall Street Zen upgraded shares of Scribe Therapeutics to a “hold” rating in a research note on Saturday, August 1st. Finally, Leerink Partners initiated coverage on shares of Scribe Therapeutics in a research report on Tuesday, August 18th. They set an “outperform” rating and a $37.00 price target on the stock.

Insider Transactions at Scribe Therapeutics

In other news, Director Carl Gordon bought 1,000,000 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was bought at an average price of $15.00 per share, for a total transaction of $15,000,000.00. Following the transaction, the director owned 1,348,825 shares in the company, valued at $20,232,375. The trade was a 286.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bio Fund Ii L.P. Ah purchased 333,333 shares of the stock in a transaction dated Monday, July 27th. The stock was purchased at an average price 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 position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 3,727,237 shares of company stock worth $56,291,746.

Scribe Therapeutics Trading Down 6.2%

Shares of NASDAQ SCTX opened at $29.41 on Thursday. Scribe Therapeutics has a 1-year low of $17.31 and a 1-year high of $39.60.

Scribe Therapeutics (NASDAQ:SCTX) last announced its earnings results on Wednesday, September 2nd. The company reported ($3.84) earnings per share for the quarter, beating the consensus estimate of ($6.20) by $2.36. The firm had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $3.10 million. As a group, sell-side analysts predict that Scribe Therapeutics will post -3.68 EPS for the current fiscal year.

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.