Needham & Company LLC Reaffirms “Buy” Rating for Stoke Therapeutics (NASDAQ:STOK)

Needham & Company LLC reaffirmed their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a report released on Monday, Benzinga reports. Needham & Company LLC currently has a $22.00 price target on the stock.

STOK has been the subject of a number of other research reports. HC Wainwright restated a buy rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price objective on shares of Stoke Therapeutics from $6.00 to $13.00 and gave the stock a neutral rating in a report on Tuesday, March 26th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Stoke Therapeutics in a report on Thursday, April 4th. Canaccord Genuity Group boosted their price target on Stoke Therapeutics from $18.00 to $21.00 and gave the stock a buy rating in a research note on Tuesday, March 26th. Finally, Wedbush raised their price objective on Stoke Therapeutics from $13.00 to $17.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Stoke Therapeutics currently has a consensus rating of Moderate Buy and a consensus target price of $20.57.

Stoke Therapeutics Stock Performance

Shares of STOK opened at $11.60 on Monday. Stoke Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $16.40. The firm has a 50-day simple moving average of $10.23 and a 200-day simple moving average of $6.68. The company has a market capitalization of $604.59 million, a price-to-earnings ratio of -4.89 and a beta of 0.82.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings data on Monday, March 25th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.02. The company had revenue of $2.80 million for the quarter, compared to analyst estimates of $3.70 million. Equities research analysts forecast that Stoke Therapeutics will post -2.28 EPS for the current year.

Insider Buying and Selling

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 3,600,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the sale, the insider now directly owns 10,843,681 shares of the company’s stock, valued at approximately $125,786,699.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Jonathan Allan sold 5,126 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $13.20, for a total value of $67,663.20. Following the completion of the transaction, the general counsel now directly owns 2,598 shares in the company, valued at $34,293.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Skorpios Trust sold 3,600,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $11.60, for a total value of $41,760,000.00. Following the transaction, the insider now owns 10,843,681 shares in the company, valued at $125,786,699.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,622,741 shares of company stock worth $41,935,115. 11.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Dorsey & Whitney Trust CO LLC purchased a new position in Stoke Therapeutics during the third quarter worth approximately $43,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Stoke Therapeutics in the 3rd quarter worth $48,000. SG Americas Securities LLC acquired a new position in Stoke Therapeutics in the third quarter valued at $53,000. Corton Capital Inc. acquired a new position in Stoke Therapeutics in the third quarter valued at $58,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Stoke Therapeutics during the third quarter valued at about $64,000.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.