Stoke Therapeutics (NASDAQ:STOK) Sees Strong Trading Volume – Still a Buy?

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) saw an uptick in trading volume on Tuesday . 2,540,845 shares changed hands during mid-day trading, an increase of 252% from the previous session’s volume of 722,576 shares.The stock last traded at $32.8930 and had previously closed at $32.39.

Analysts Set New Price Targets

Several research analysts have recently commented on STOK shares. Wall Street Zen downgraded Stoke Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Chardan Capital restated a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, March 18th. Wedbush raised their price target on Stoke Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Canaccord Genuity Group upped their price objective on shares of Stoke Therapeutics from $36.00 to $60.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, BTIG Research reissued a “buy” rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a research report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Stoke Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $41.83.

Stoke Therapeutics Stock Up 1.1%

The business has a fifty day moving average price of $31.45 and a 200-day moving average price of $32.37. The company has a market cap of $2.04 billion, a P/E ratio of -11.66 and a beta of 1.17.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.01. The business had revenue of $6.23 million during the quarter, compared to analysts’ expectations of $6.48 million. Stoke Therapeutics had a negative return on equity of 48.84% and a negative net margin of 529.20%. As a group, research analysts expect that Stoke Therapeutics, Inc. will post -3.22 earnings per share for the current year.

Insider Activity at Stoke Therapeutics

In related news, General Counsel Jonathan Allan sold 1,457 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $29.95, for a total value of $43,637.15. Following the completion of the transaction, the general counsel owned 18,086 shares of the company’s stock, valued at $541,675.70. The trade was a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Barry Ticho sold 1,795 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $30.58, for a total transaction of $54,891.10. Following the completion of the transaction, the insider owned 34,826 shares of the company’s stock, valued at $1,064,979.08. The trade was a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Stoke Therapeutics by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,167 shares of the company’s stock valued at $162,000 after buying an additional 1,149 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Stoke Therapeutics by 21.4% during 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 during the last quarter. Jane Street Group LLC lifted its holdings in Stoke Therapeutics by 125.2% in the first quarter. Jane Street Group LLC now owns 26,978 shares of the company’s stock valued at $179,000 after buying an additional 15,001 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Stoke Therapeutics by 26.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,655 shares of the company’s stock valued at $291,000 after purchasing an additional 5,398 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Stoke Therapeutics by 33.9% during the 2nd quarter. Rhumbline Advisers now owns 66,419 shares of the company’s stock worth $754,000 after buying an additional 16,820 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.