Stoke Therapeutics (NASDAQ:STOK) Trading Down 5.1% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares were down 5.1% on Tuesday . The company traded as low as $31.67 and last traded at $31.3160. Approximately 680,303 shares traded hands during trading, a decline of 25% from the average daily volume of 910,669 shares. The stock had previously closed at $33.00.

Analysts Set New Price Targets

STOK has been the subject of several analyst reports. Wedbush raised their price target on shares of Stoke Therapeutics from $22.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Stoke Therapeutics in a report on Monday, December 1st. Canaccord Genuity Group lifted their target price on Stoke Therapeutics from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Chardan Capital upgraded Stoke Therapeutics to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, Needham & Company LLC increased their price target on Stoke Therapeutics from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $31.00.

Stoke Therapeutics Price Performance

The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 46.70 and a beta of 1.14. The firm’s fifty day moving average is $29.20 and its 200-day moving average is $20.14.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results on Tuesday, November 4th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.11). Stoke Therapeutics had a net margin of 19.73% and a return on equity of 13.28%. The business had revenue of $10.63 million for the quarter, compared to the consensus estimate of $6.06 million. As a group, equities research analysts anticipate that Stoke Therapeutics, Inc. will post -2.01 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Jonathan Allan sold 10,000 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $25.07, for a total transaction of $250,700.00. Following the transaction, the general counsel owned 11,831 shares in the company, valued at $296,603.17. The trade was a 45.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward M. Md Kaye sold 42,461 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $25.09, for a total transaction of $1,065,346.49. Following the completion of the sale, the director owned 49,124 shares of the company’s stock, valued at $1,232,521.16. The trade was a 46.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 164,758 shares of company stock valued at $4,575,161 over the last 90 days. 9.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Stoke Therapeutics by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,163,874 shares of the company’s stock worth $74,351,000 after purchasing an additional 217,616 shares in the last quarter. Marshall Wace LLP raised its stake in Stoke Therapeutics by 7.9% during the 2nd quarter. Marshall Wace LLP now owns 2,300,554 shares of the company’s stock worth $26,111,000 after buying an additional 168,771 shares during the period. Siren L.L.C. raised its stake in Stoke Therapeutics by 12.4% during the 1st quarter. Siren L.L.C. now owns 2,247,347 shares of the company’s stock worth $14,945,000 after buying an additional 247,347 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Stoke Therapeutics by 21.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock worth $11,053,000 after acquiring an additional 293,072 shares in the last quarter. Finally, Polar Capital Holdings Plc grew its stake in Stoke Therapeutics by 49.8% in the third quarter. Polar Capital Holdings Plc now owns 1,323,470 shares of the company’s stock valued at $31,102,000 after acquiring an additional 439,824 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.