Stoke Therapeutics (NASDAQ:STOK) Sees Strong Trading Volume – Time to Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares saw unusually-high trading volume on Thursday . Approximately 2,749,716 shares were traded during mid-day trading, an increase of 240% from the previous session’s volume of 809,847 shares.The stock last traded at $34.0970 and had previously closed at $33.79.

Wall Street Analyst Weigh In

STOK has been the subject of several analyst reports. Wedbush upped their target price on Stoke Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Wolfe Research assumed coverage on Stoke Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $40.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Stoke Therapeutics in a research note on Monday, December 29th. Chardan Capital reissued a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, March 18th. Finally, Needham & Company LLC boosted their price target on shares of Stoke Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

Stoke Therapeutics Price Performance

The firm has a market cap of $1.99 billion, a PE ratio of -279.56 and a beta of 1.07. The business has a fifty day moving average price of $32.78 and a two-hundred day moving average price of $30.37.

Insider Activity at Stoke Therapeutics

In other news, insider Barry Ticho sold 6,686 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $31.34, for a total value of $209,539.24. Following the transaction, the insider owned 40,798 shares in the company, valued at $1,278,609.32. This represents a 14.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Leggett sold 2,382 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $31.34, for a total transaction of $74,651.88. Following the completion of the sale, the chief financial officer directly owned 10,172 shares of the company’s stock, valued at $318,790.48. This trade represents a 18.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 69,699 shares of company stock worth $2,526,714. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

A number of institutional investors have recently modified their holdings of STOK. Kestra Advisory Services LLC acquired a new position in shares of Stoke Therapeutics in the fourth quarter worth $26,000. Harbour Investments Inc. boosted its position in Stoke Therapeutics by 312.9% during the fourth quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock valued at $38,000 after purchasing an additional 898 shares during the last quarter. Generali Investments Management Co LLC purchased a new position in Stoke Therapeutics in the third quarter valued at about $41,000. BNP Paribas Financial Markets increased its position in Stoke Therapeutics by 66.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock worth $48,000 after purchasing an additional 1,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Stoke Therapeutics by 461.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock worth $50,000 after purchasing an additional 3,591 shares during the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, headquartered in Bedford, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing genetic medicines to upregulate protein production for the treatment of rare neuromuscular and neurological disorders. Founded in 2014, the company applies its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO™) platform to design antisense oligonucleotides that selectively modulate RNA splicing and enhance expression of functional proteins.

The company’s lead program, STK-001, is an antisense oligonucleotide therapy designed to increase production of the sodium channel protein SCN1A and is currently in clinical development for Dravet syndrome, a severe childhood-onset epilepsy.