Palo Alto Investors LP Makes New Investment in Stoke Therapeutics, Inc. $STOK

Palo Alto Investors LP bought a new stake in Stoke Therapeutics, Inc. (NASDAQ:STOK) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 84,631 shares of the company’s stock, valued at approximately $2,769,126,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Stoke Therapeutics by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,167 shares of the company’s stock worth $162,000 after acquiring an additional 1,149 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Stoke Therapeutics by 21.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock valued at $11,053,000 after purchasing an additional 293,072 shares in the last quarter. Jane Street Group LLC increased its stake in Stoke Therapeutics by 125.2% in the 1st quarter. Jane Street Group LLC now owns 26,978 shares of the company’s stock valued at $179,000 after purchasing an additional 15,001 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Stoke Therapeutics by 26.6% during the second quarter. JPMorgan Chase & Co. now owns 25,655 shares of the company’s stock worth $291,000 after purchasing an additional 5,398 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Stoke Therapeutics by 33.9% during the second quarter. Rhumbline Advisers now owns 66,419 shares of the company’s stock worth $754,000 after purchasing an additional 16,820 shares during the last quarter.

Stoke Therapeutics Price Performance

Shares of NASDAQ:STOK opened at $32.59 on Friday. The business has a 50-day moving average of $31.21 and a two-hundred day moving average of $32.26. The firm has a market capitalization of $2.10 billion, a PE ratio of -9.76 and a beta of 1.20. Stoke Therapeutics, Inc. has a 12 month low of $18.80 and a 12 month high of $40.22.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $9.32 million during the quarter, compared to analyst estimates of $4.89 million. As a group, research analysts anticipate that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STOK has been the topic of several research reports. Canaccord Genuity Group lowered their target price on Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Chardan Capital reiterated a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. BTIG Research reiterated a “buy” rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a research report on Monday, May 11th. The Goldman Sachs Group assumed coverage on shares of Stoke Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Stoke Therapeutics in a report on Friday, August 21st. They set an “overweight” rating and a $40.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 2,861 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total transaction 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. The trade was a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Edward M. Md Kaye sold 12,567 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total transaction of $402,521.01. Following the completion of the sale, the director directly owned 124,557 shares of the company’s stock, valued at $3,989,560.71. The trade was a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 30,623 shares of company stock worth $953,765. Company insiders own 9.60% of the company’s stock.

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.