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

Scribe Therapeutics Inc. (NASDAQ:SCTX) was the recipient 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 daily trading volume, of 195,886 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.5% of the shares of the stock are short sold.

Scribe Therapeutics Trading Up 1.8%

Scribe Therapeutics 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.

Wall Street Analyst Weigh In

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

Insider Activity

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