Stoke Therapeutics (NASDAQ:STOK) Trading Down 7.9% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK) dropped 7.9% on Thursday . The stock traded as low as $30.32 and last traded at $30.42. 249,517 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 751,333 shares. The stock had previously closed at $33.03.

Analyst Ratings Changes

Several brokerages recently commented on STOK. Chardan Capital reiterated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Wedbush raised their price objective on Stoke Therapeutics from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. started coverage on shares of Stoke Therapeutics in a research note on Friday. They set an “overweight” rating and a $40.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Stoke Therapeutics in a report on Friday, August 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Stoke Therapeutics in a report on Monday, July 13th. They set a “buy” rating and a $44.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.25.

Stoke Therapeutics Trading Up 2.8%

The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -9.67 and a beta of 1.20. The company has a fifty day moving average price of $30.99 and a two-hundred day moving average price of $32.23.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.13). Stoke Therapeutics had a negative net margin of 753.60% and a negative return on equity of 59.36%. The company had revenue of $9.32 million during the quarter, compared to analysts’ expectations of $4.89 million. As a group, equities research analysts expect that Stoke Therapeutics, Inc. will post -3.5 earnings per share for the current year.

Insiders Place Their Bets

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 2,861 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total value of $91,637.83. Following the completion of the sale, the general counsel directly owned 21,225 shares in the company, valued at $679,836.75. This represents a 11.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Barry Ticho sold 7,176 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $29.04, for a total value of $208,391.04. Following the completion of the sale, the insider directly owned 20,422 shares of the company’s stock, valued at $593,054.88. This trade represents a 26.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 30,623 shares of company stock valued at $953,765. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in Stoke Therapeutics during the fourth quarter worth about $26,000. Quantbot Technologies LP acquired a new position in Stoke Therapeutics in the 2nd quarter valued at about $34,000. KBC Group NV purchased a new stake in shares of Stoke Therapeutics in the 1st quarter valued at approximately $36,000. Harbour Investments Inc. increased its holdings in shares of Stoke Therapeutics by 312.9% during the 4th quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock worth $38,000 after buying an additional 898 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Stoke Therapeutics by 66.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock worth $48,000 after buying an additional 1,668 shares during the last quarter.

Stoke Therapeutics Company Profile

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.