Wedbush Weighs in on Stoke Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:STOK)

Stoke Therapeutics, Inc. (NASDAQ:STOK) – Research analysts at Wedbush lowered their Q1 2024 earnings per share (EPS) estimates for Stoke Therapeutics in a research note issued to investors on Tuesday, March 26th. Wedbush analyst L. Chico now expects that the company will earn ($0.61) per share for the quarter, down from their prior forecast of ($0.57). Wedbush currently has a “Outperform” rating and a $17.00 target price on the stock. The consensus estimate for Stoke Therapeutics’ current full-year earnings is ($2.28) per share. Wedbush also issued estimates for Stoke Therapeutics’ Q2 2024 earnings at ($0.63) EPS, Q3 2024 earnings at ($0.65) EPS, Q4 2024 earnings at ($0.60) EPS, FY2024 earnings at ($2.48) EPS, FY2026 earnings at ($2.97) EPS, FY2027 earnings at ($1.53) EPS and FY2028 earnings at $1.39 EPS.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen raised shares of Stoke Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research report on Tuesday. Needham & Company LLC boosted their price objective on shares of Stoke Therapeutics from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Stoke Therapeutics from $6.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Canaccord Genuity Group boosted their target price on Stoke Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Stoke Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

Stoke Therapeutics Price Performance

Shares of Stoke Therapeutics stock opened at $14.17 on Thursday. Stoke Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.40. The stock has a 50 day moving average of $5.88 and a 200 day moving average of $4.95.

Institutional Trading of Stoke Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its position in Stoke Therapeutics by 8.2% during the 1st quarter. Swiss National Bank now owns 30,500 shares of the company’s stock valued at $642,000 after purchasing an additional 2,300 shares during the period. JPMorgan Chase & Co. lifted its stake in Stoke Therapeutics by 20.8% in the 1st quarter. JPMorgan Chase & Co. now owns 19,608 shares of the company’s stock worth $412,000 after acquiring an additional 3,374 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Stoke Therapeutics by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 62,698 shares of the company’s stock valued at $1,320,000 after buying an additional 837 shares during the period. MetLife Investment Management LLC grew its stake in Stoke Therapeutics by 58.5% in the first quarter. MetLife Investment Management LLC now owns 11,621 shares of the company’s stock valued at $245,000 after purchasing an additional 4,289 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Stoke Therapeutics by 7.6% in the first quarter. Rhumbline Advisers now owns 19,345 shares of the company’s stock worth $407,000 after acquiring an additional 1,362 shares in the last quarter.

Insider Buying and Selling

In other news, CEO Edward M. Md Kaye sold 11,150 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total value of $68,015.00. Following the sale, the chief executive officer now owns 69,350 shares in the company, valued at $423,035. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Stoke Therapeutics news, CFO Stephen J. Tulipano sold 4,116 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total value of $25,107.60. Following the sale, the chief financial officer now owns 20,746 shares of the company’s stock, valued at $126,550.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward M. Md Kaye sold 11,150 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total transaction of $68,015.00. Following the sale, the chief executive officer now owns 69,350 shares in the company, valued at $423,035. The disclosure for this sale can be found here. Insiders sold 37,615 shares of company stock valued at $212,852 over the last quarter. 12.30% of the stock is currently owned by company insiders.

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.