Stoke Therapeutics (NASDAQ:STOK) Trading 6.2% Higher – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price traded up 6.2% on Thursday . The company traded as high as $31.50 and last traded at $31.2330. 208,895 shares changed hands during trading, a decline of 72% from the average session volume of 750,139 shares. The stock had previously closed at $29.40.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STOK shares. Canaccord Genuity Group boosted their price target on Stoke Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Wedbush boosted their target price on shares of Stoke Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, January 12th. Chardan Capital raised their price target on shares of Stoke Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Stoke Therapeutics in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Stoke Therapeutics from $15.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.10.

Stoke Therapeutics Stock Performance

The firm’s 50 day simple moving average is $31.26 and its 200 day simple moving average is $25.35. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 46.37 and a beta of 1.10.

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

Insider Transactions at Stoke Therapeutics

In related news, General Counsel Jonathan Allan sold 3,978 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $32.28, for a total value of $128,409.84. Following the completion of the transaction, the general counsel directly owned 11,831 shares in the company, valued at $381,904.68. The trade was a 25.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Barry Ticho sold 3,662 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $31.34, for a total transaction of $114,767.08. Following the sale, the insider owned 19,798 shares in the company, valued at approximately $620,469.32. This represents a 15.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,705 shares of company stock valued at $3,070,910 in the last 90 days. 9.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds have recently bought and sold shares of STOK. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Stoke Therapeutics by 31.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,776 shares of the company’s stock valued at $88,000 after buying an additional 658 shares in the last quarter. Generali Investments Management Co LLC raised its position in Stoke Therapeutics by 41.0% during the fourth quarter. Generali Investments Management Co LLC now owns 2,471 shares of the company’s stock worth $78,000 after acquiring an additional 718 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Stoke Therapeutics by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,167 shares of the company’s stock valued at $162,000 after purchasing an additional 1,149 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Stoke Therapeutics by 12.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 11,978 shares of the company’s stock valued at $296,000 after purchasing an additional 1,313 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Stoke Therapeutics by 66.2% during the second 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 in the last quarter.

About Stoke Therapeutics

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.