Stoke Therapeutics (NASDAQ:STOK) Sets New 52-Week High – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares hit a new 52-week high on Monday . The stock traded as high as $24.80 and last traded at $24.24, with a volume of 170843 shares traded. The stock had previously closed at $24.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STOK shares. Chardan Capital reaffirmed a “buy” rating and set a $24.00 price target on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Wedbush increased their price target on Stoke Therapeutics from $16.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Jefferies Financial Group started coverage on Stoke Therapeutics in a research report on Friday, July 18th. They set a “buy” rating and a $30.00 price target on the stock. BTIG Research set a $28.00 price target on Stoke Therapeutics and gave the stock a “buy” rating in a research report on Monday, August 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Stoke Therapeutics in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $25.57.

Stoke Therapeutics Trading Up 1.0%

The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 28.71 and a beta of 1.14. The stock has a 50-day moving average price of $18.25 and a 200 day moving average price of $12.62.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.17. Stoke Therapeutics had a return on equity of 18.32% and a net margin of 26.25%.The company had revenue of $13.82 million for the quarter, compared to analysts’ expectations of $31.51 million. Equities research analysts anticipate that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Jonathan Allan sold 6,345 shares of Stoke Therapeutics stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $20.07, for a total value of $127,344.15. Following the sale, the general counsel directly owned 11,831 shares in the company, valued at approximately $237,448.17. The trade was a 34.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward M. Md Kaye sold 45,996 shares of Stoke Therapeutics stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $20.13, for a total value of $925,899.48. Following the completion of the sale, the director owned 91,585 shares in the company, valued at approximately $1,843,606.05. The trade was a 33.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,719 shares of company stock worth $2,063,359. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Stoke Therapeutics by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,784,202 shares of the company’s stock worth $18,515,000 after purchasing an additional 53,004 shares in the last quarter. Marshall Wace LLP lifted its stake in Stoke Therapeutics by 7.9% in the 2nd quarter. Marshall Wace LLP now owns 2,300,554 shares of the company’s stock worth $26,111,000 after purchasing an additional 168,771 shares in the last quarter. Siren L.L.C. lifted its stake in Stoke Therapeutics by 12.4% in the 1st quarter. Siren L.L.C. now owns 2,247,347 shares of the company’s stock worth $14,945,000 after purchasing an additional 247,347 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Stoke Therapeutics by 21.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock worth $11,053,000 after purchasing an additional 293,072 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Stoke Therapeutics by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 972,921 shares of the company’s stock worth $11,044,000 after purchasing an additional 70,935 shares in the last quarter.

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.