Stoke Therapeutics (NASDAQ:STOK) Trading Up 7.6% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price rose 7.6% during trading on Tuesday . The company traded as high as $28.28 and last traded at $29.0040. Approximately 406,188 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 912,906 shares. The stock had previously closed at $26.95.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STOK. Weiss Ratings reissued a “hold (c-)” rating on shares of Stoke Therapeutics in a research note on Wednesday. Needham & Company LLC lifted their target price on shares of Stoke Therapeutics from $22.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. boosted their price target on Stoke Therapeutics from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Wedbush upped their price target on Stoke Therapeutics from $22.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, BTIG Research reissued a “buy” rating and set a $39.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Stoke Therapeutics Trading Down 1.9%

The company has a market cap of $1.60 billion, a PE ratio of 41.69 and a beta of 1.32. The stock has a 50 day moving average price of $27.41 and a 200 day moving average price of $18.21.

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

Insider Buying and Selling at Stoke Therapeutics

In related news, insider Barry Ticho sold 5,931 shares of Stoke Therapeutics 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 completion of the transaction, the insider directly owned 7,195 shares of the company’s stock, valued at $185,055.40. This trade represents a 45.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Adrian R. Krainer sold 40,472 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $26.98, for a total transaction of $1,091,934.56. Following the completion of the sale, the director owned 364,246 shares in the company, valued at approximately $9,827,357.08. This trade represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 213,367 shares of company stock valued at $5,110,464 in the last quarter. 9.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co raised its stake in Stoke Therapeutics by 12.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 11,978 shares of the company’s stock valued at $296,000 after buying an additional 1,313 shares during the last quarter. Polar Capital Holdings Plc increased its holdings in shares of Stoke Therapeutics by 49.8% during the third quarter. Polar Capital Holdings Plc now owns 1,323,470 shares of the company’s stock valued at $31,102,000 after acquiring an additional 439,824 shares in the last quarter. Parkman Healthcare Partners LLC bought a new position in shares of Stoke Therapeutics during the third quarter valued at $5,875,000. Nomura Holdings Inc. purchased a new position in shares of Stoke Therapeutics in the 3rd quarter worth about $1,908,000. Finally, Millennium Management LLC raised its position in shares of Stoke Therapeutics by 199.3% in the 3rd quarter. Millennium Management LLC now owns 61,048 shares of the company’s stock worth $1,435,000 after purchasing an additional 40,652 shares during 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.