Stoke Therapeutics (NASDAQ:STOK) Stock Price Down 5% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price dropped 5% during trading on Wednesday . The company traded as low as $11.35 and last traded at $11.50. Approximately 82,661 shares changed hands during trading, a decline of 89% from the average daily volume of 739,745 shares. The stock had previously closed at $12.10.

Wall Street Analyst Weigh In

STOK has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Leerink Partnrs raised shares of Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Leerink Partners assumed coverage on shares of Stoke Therapeutics in a research report on Monday, October 14th. They set an “outperform” rating and a $18.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $21.29.

Stoke Therapeutics Trading Up 1.7 %

The company has a market cap of $598.53 million, a PE ratio of -5.38 and a beta of 0.95. The business’s 50 day moving average is $12.49 and its two-hundred day moving average is $13.58.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. The firm had revenue of $4.89 million during the quarter, compared to analyst estimates of $3.46 million. As a group, equities research analysts predict that Stoke Therapeutics, Inc. will post -2.03 EPS for the current fiscal year.

Insider Activity

In related news, insider Barry Ticho sold 13,945 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $12.78, for a total transaction of $178,217.10. Following the completion of the transaction, the insider now directly owns 47,332 shares of the company’s stock, valued at approximately $604,902.96. This represents a 22.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward M. Md Kaye sold 6,170 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $12.78, for a total value of $78,852.60. Following the transaction, the chief executive officer now owns 68,671 shares of the company’s stock, valued at $877,615.38. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,849 shares of company stock worth $809,421 over the last quarter. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

Several large investors have recently bought and sold shares of STOK. Exome Asset Management LLC bought a new position in Stoke Therapeutics during the third quarter valued at $2,170,000. Barclays PLC increased its holdings in shares of Stoke Therapeutics by 145.3% in the 3rd quarter. Barclays PLC now owns 79,740 shares of the company’s stock worth $980,000 after buying an additional 47,239 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Stoke Therapeutics by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 870,831 shares of the company’s stock valued at $10,705,000 after buying an additional 76,661 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Stoke Therapeutics by 338.2% in the 3rd quarter. Jane Street Group LLC now owns 330,442 shares of the company’s stock valued at $4,061,000 after acquiring an additional 255,028 shares during the last quarter. Finally, State Street Corp grew its position in Stoke Therapeutics by 8.6% in the third quarter. State Street Corp now owns 1,728,888 shares of the company’s stock worth $21,248,000 after acquiring an additional 137,145 shares in the last quarter.

About Stoke Therapeutics

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.