Stoke Therapeutics (NASDAQ:STOK) Trading Up 6.3% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price rose 6.3% during mid-day trading on Thursday . The company traded as high as $10.63 and last traded at $10.65. Approximately 457,419 shares changed hands during trading, a decline of 52% from the average daily volume of 952,240 shares. The stock had previously closed at $10.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. Leerink Partnrs upgraded Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Chardan Capital began coverage on Stoke Therapeutics in a research report on Friday, December 20th. They set a “buy” rating and a $24.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have issued 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 a consensus target price of $21.29.

Stoke Therapeutics Trading Up 5.8 %

The company’s 50 day moving average is $11.25 and its 200 day moving average is $12.83. The company has a market cap of $561.48 million, a PE ratio of -5.05 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) 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 business had revenue of $4.89 million for the quarter, compared to the consensus estimate of $3.46 million. Analysts expect that Stoke Therapeutics, Inc. will post -2.03 EPS for the current year.

Insider Activity

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 9,696 shares of Stoke Therapeutics stock in a transaction on Friday, December 6th. The shares were sold at an average price of $12.78, for a total value of $123,914.88. Following the transaction, the general counsel now directly owns 35,142 shares of the company’s stock, valued at approximately $449,114.76. The trade was a 21.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barry Ticho sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $12.07, for a total value of $120,700.00. Following the transaction, the insider now directly owns 51,277 shares in the company, valued at approximately $618,913.39. The trade was a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,849 shares of company stock worth $809,421. 11.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lynx1 Capital Management LP increased its holdings in shares of Stoke Therapeutics by 40.3% during the second quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock valued at $70,052,000 after acquiring an additional 1,488,371 shares in the last quarter. RTW Investments LP grew its position in Stoke Therapeutics by 10.1% during the 3rd quarter. RTW Investments LP now owns 4,652,285 shares of the company’s stock worth $57,177,000 after purchasing an additional 427,447 shares during the last quarter. State Street Corp increased its stake in Stoke Therapeutics by 8.6% during the 3rd quarter. State Street Corp now owns 1,728,888 shares of the company’s stock valued at $21,248,000 after purchasing an additional 137,145 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Stoke Therapeutics by 426.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,387,200 shares of the company’s stock worth $18,741,000 after buying an additional 1,123,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Stoke Therapeutics by 2.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,350,925 shares of the company’s stock worth $14,901,000 after buying an additional 38,446 shares during the period.

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.