Scribe Therapeutics Inc. (NASDAQ:SCTX) Short Interest Up ∞ in July

Scribe Therapeutics Inc. (NASDAQ:SCTX) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 263,070 shares, a growth of ∞ from the July 15th total of 0 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily trading volume, of 195,886 shares, the short-interest ratio is presently 1.3 days.

Insider Buying and Selling

In related news, Director Carl L. Gordon purchased 1,000,000 shares of Scribe Therapeutics stock in a transaction dated Monday, July 27th. The shares were acquired 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 approximately $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 Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bio Fund Ii L.P. Ah purchased 333,333 shares of Scribe Therapeutics stock in a transaction dated Monday, July 27th. The shares were bought at an average price of $15.00 per share, for a total transaction of $4,999,995.00. Following the acquisition, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 3,727,237 shares of company stock valued at $56,291,746 in the last quarter.

Analyst Ratings Changes

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

Scribe Therapeutics Trading Down 0.1%

Scribe Therapeutics stock traded down $0.02 during mid-day trading on Monday, hitting $20.71. The company’s stock had a trading volume of 44,308 shares, compared to its average volume of 175,520. Scribe Therapeutics has a 1 year low of $17.31 and a 1 year high of $26.50.

About Scribe Therapeutics

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.