Stoke Therapeutics (NASDAQ:STOK) Shares Gap Up – Time to Buy?

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) gapped up prior to trading on Tuesday . The stock had previously closed at $9.83, but opened at $10.10. Stoke Therapeutics shares last traded at $9.93, with a volume of 45,214 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Cantor Fitzgerald upgraded shares of Stoke Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. Chardan Capital restated a “buy” rating and issued a $24.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a report on Wednesday, April 9th. Finally, HC Wainwright cut their target price on Stoke Therapeutics from $47.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.20.

Stoke Therapeutics Trading Up 3.6%

The stock has a market capitalization of $555.85 million, a price-to-earnings ratio of -4.80 and a beta of 1.20. The stock has a 50-day simple moving average of $8.18 and a 200 day simple moving average of $9.92.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.38. The business had revenue of $22.61 million for the quarter, compared to the consensus estimate of $4.20 million. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. Sell-side analysts expect that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Barry Ticho sold 3,884 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.67, for a total transaction of $33,674.28. Following the transaction, the insider now owns 63,962 shares of the company’s stock, valued at approximately $554,550.54. This represents a 5.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward M. Md Kaye sold 10,382 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $8.67, for a total transaction of $90,011.94. Following the completion of the transaction, the director now owns 148,253 shares in the company, valued at $1,285,353.51. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,532 shares of company stock valued at $143,332 over the last ninety days. Corporate insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Stoke Therapeutics by 29.2% in the 4th quarter. JPMorgan Chase & Co. now owns 19,964 shares of the company’s stock valued at $220,000 after buying an additional 4,512 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Stoke Therapeutics by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 93,195 shares of the company’s stock worth $1,028,000 after acquiring an additional 1,330 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Stoke Therapeutics during the 4th quarter worth approximately $1,423,000. Rhumbline Advisers increased its stake in shares of Stoke Therapeutics by 6.0% in the fourth quarter. Rhumbline Advisers now owns 49,374 shares of the company’s stock valued at $545,000 after buying an additional 2,787 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Stoke Therapeutics in the 4th quarter valued at about $113,000.

About Stoke Therapeutics

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.