Leerink Partners Begins Coverage on Scribe Therapeutics (NASDAQ:SCTX)

Equities research analysts at Leerink Partners started coverage on shares of Scribe Therapeutics (NASDAQ:SCTX) in a research report issued on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $37.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 74.61% from the company’s previous close.

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

Scribe Therapeutics Price Performance

Shares of Scribe Therapeutics stock opened at $21.19 on Tuesday. Scribe Therapeutics has a fifty-two week low of $17.31 and a fifty-two week high of $26.50.

Insider Buying and Selling at Scribe Therapeutics

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

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.