Stoke Therapeutics (NASDAQ:STOK) Stock Price Expected to Rise, Wedbush Analyst Says

Stoke Therapeutics (NASDAQ:STOK) had its target price raised by research analysts at Wedbush from $22.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 51.42% from the company’s previous close.

Several other research analysts have also issued reports on STOK. Chardan Capital reissued a “buy” rating and issued a $24.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Stoke Therapeutics in a research note on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a report on Wednesday. Jefferies Financial Group began coverage on shares of Stoke Therapeutics in a report on Friday, July 18th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Needham & Company LLC upped their target price on shares of Stoke Therapeutics from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.43.

Stoke Therapeutics Stock Performance

Shares of STOK stock opened at $21.13 on Wednesday. Stoke Therapeutics has a fifty-two week low of $5.35 and a fifty-two week high of $38.69. The stock has a 50 day moving average price of $26.28 and a two-hundred day moving average price of $16.99. The company has a market capitalization of $1.16 billion, a P/E ratio of 24.23 and a beta of 1.32.

Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.09). Stoke Therapeutics had a net margin of 26.25% and a return on equity of 18.32%. The business had revenue of $10.63 million for the quarter, compared to analysts’ expectations of $6.06 million. As a group, equities analysts predict that Stoke Therapeutics will post -2.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Jonathan Allan sold 10,000 shares of Stoke Therapeutics stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $25.07, for a total value of $250,700.00. Following the completion of the sale, the general counsel owned 11,831 shares of the company’s stock, valued at $296,603.17. The trade was a 45.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward M. Md Kaye sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $30.00, for a total value of $750,000.00. Following the sale, the director owned 49,124 shares of the company’s stock, valued at approximately $1,473,720. This represents a 33.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 180,676 shares of company stock valued at $4,071,664. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new stake in shares of Stoke Therapeutics during the 2nd quarter valued at $7,489,000. Checkpoint Capital L.P. lifted its position in Stoke Therapeutics by 139.3% during the first quarter. Checkpoint Capital L.P. now owns 730,717 shares of the company’s stock valued at $4,859,000 after purchasing an additional 425,330 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Stoke Therapeutics during the first quarter valued at $2,670,000. Assenagon Asset Management S.A. grew its holdings in Stoke Therapeutics by 67.3% during the third quarter. Assenagon Asset Management S.A. now owns 900,272 shares of the company’s stock valued at $21,156,000 after purchasing an additional 362,299 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Stoke Therapeutics during the first quarter valued at about $2,376,000.

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.