Stoke Therapeutics (NASDAQ:STOK) Trading Up 12.4% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price rose 12.4% during trading on Wednesday . The company traded as high as $33.73 and last traded at $34.2450. Approximately 370,097 shares changed hands during trading, a decline of 59% from the average daily volume of 909,734 shares. The stock had previously closed at $30.47.

Wall Street Analyst Weigh In

Several analysts have recently commented on STOK shares. Weiss Ratings restated a “hold (c)” rating on shares of Stoke Therapeutics in a research note on Monday. BTIG Research reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their target price on Stoke Therapeutics from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Chardan Capital raised Stoke Therapeutics to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Wedbush lifted their price target on Stoke Therapeutics from $22.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $31.00.

Stoke Therapeutics Trading Up 13.2%

The firm has a market cap of $1.97 billion, a PE ratio of 51.51 and a beta of 1.14. The company has a 50 day moving average price of $29.34 and a 200 day moving average price of $20.29.

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

Insider Transactions at Stoke Therapeutics

In related news, Director Adrian R. Krainer sold 40,472 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $26.98, for a total value of $1,091,934.56. Following the sale, the director directly owned 364,246 shares in the company, valued at $9,827,357.08. The trade was a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barry Ticho sold 5,931 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $25.72, for a total transaction of $152,545.32. Following the transaction, the insider owned 7,195 shares of the company’s stock, valued at $185,055.40. This trade represents a 45.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 164,758 shares of company stock worth $4,575,161. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in Stoke Therapeutics in the 1st quarter valued at approximately $267,000. US Bancorp DE increased its position in Stoke Therapeutics by 9,743.9% during the first quarter. US Bancorp DE now owns 11,222 shares of the company’s stock worth $75,000 after buying an additional 11,108 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Stoke Therapeutics by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,784,202 shares of the company’s stock worth $18,515,000 after acquiring an additional 53,004 shares during the last quarter. Invesco Ltd. lifted its position in shares of Stoke Therapeutics by 117.0% in the first quarter. Invesco Ltd. now owns 26,183 shares of the company’s stock valued at $174,000 after acquiring an additional 14,118 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Stoke Therapeutics during the first quarter valued at $719,000.

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.