Scribe Therapeutics Inc. (NASDAQ:SCTX) Stock Has Average Price Target of $51.75 According to Analysts

Shares of Scribe Therapeutics Inc. (NASDAQ:SCTX) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $51.75.

A number of research analysts have issued reports on SCTX shares. 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 target price on the stock. Zacks Research raised shares of Scribe Therapeutics to a “hold” rating in a research note on Tuesday, September 1st. Leerink Partners assumed coverage on Scribe Therapeutics in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $37.00 target price for the company. Guggenheim initiated coverage on Scribe Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on Scribe Therapeutics in a research note on Tuesday, August 18th. They issued an “overweight” rating and a $60.00 price target on the stock.

Insider Activity at Scribe Therapeutics

In related news, Director Carl L. Gordon acquired 1,000,000 shares of the stock in a transaction dated Monday, July 27th. The stock was bought at an average cost of $15.00 per share, with a total value of $15,000,000.00. Following the purchase, the director directly owned 1,348,825 shares of the company’s stock, valued at approximately $20,232,375. This represents a 286.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Behzad Aghazadeh acquired 2,383,333 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were purchased at an average price of $15.15 per share, with a total value of $36,107,494.95. Following the completion of the acquisition, the director owned 3,080,983 shares in the company, valued at approximately $46,676,892.45. The trade was a 341.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 3,727,237 shares of company stock valued at $56,291,746.

Scribe Therapeutics Price Performance

NASDAQ SCTX opened at $16.79 on Monday. Scribe Therapeutics has a fifty-two week low of $16.49 and a fifty-two week high of $39.60. The business has a fifty day moving average of $26.12.

Scribe Therapeutics (NASDAQ:SCTX) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported ($3.84) EPS for the quarter, beating analysts’ consensus estimates of ($6.20) by $2.36. The company had revenue of $1.92 million for the quarter, compared to analyst estimates of $3.10 million. As a group, research analysts predict that Scribe Therapeutics will post -3.68 earnings per share for the current fiscal year.

Scribe Therapeutics Company Profile

Scribe Therapeutics is a biotechnology company focused on developing CRISPR-based gene-editing technologies and therapeutic applications. Its work centers on engineering gene-editing systems designed to improve precision, delivery and performance for potential use in the treatment of human disease.

The company’s platform is intended to support the development of therapies that can modify genetic material in targeted cells. Scribe Therapeutics has also pursued research collaborations and partnerships aimed at applying its gene-editing technology across multiple therapeutic areas.

Scribe Therapeutics is based in the United States and has operated as a privately held biotechnology company.