Stoke Therapeutics (NASDAQ:STOK) Stock Price Down 9% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK) fell 9% on Wednesday . The company traded as low as $26.56 and last traded at $26.5860. Approximately 613,871 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 762,047 shares. The stock had previously closed at $29.20.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. began coverage on Stoke Therapeutics in a report on Friday, August 21st. They set an “overweight” rating and a $40.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Stoke Therapeutics in a research report on Thursday, September 10th. Canaccord Genuity Group cut their price target on shares of Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings restated a “sell (d)” rating on shares of Stoke Therapeutics in a report on Friday, August 7th. Finally, Wedbush lifted their price objective on shares of Stoke Therapeutics from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Stoke Therapeutics Trading Down 9.6%

The stock has a market cap of $1.70 billion, a PE ratio of -7.90 and a beta of 1.23. The business has a 50-day moving average price of $30.46 and a 200 day moving average price of $31.74.

Stoke Therapeutics (NASDAQ:STOK) last announced 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 return on equity of 59.36% and a negative net margin of 753.60%.The firm had revenue of $9.32 million during the quarter, compared to analysts’ expectations of $4.89 million. On average, equities analysts predict that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Insider Transactions at Stoke Therapeutics

In other news, insider Barry Ticho sold 7,176 shares of Stoke Therapeutics stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $29.04, for a total value of $208,391.04. Following the completion of the transaction, the insider owned 20,422 shares in the company, valued at $593,054.88. This trade represents a 26.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 approximately $679,836.75. This trade represents a 11.88% 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. Insiders sold 32,916 shares of company stock worth $1,025,302 over the last quarter. Corporate 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 business. Tidal Investments LLC boosted its holdings in shares of Stoke Therapeutics by 16.1% in the second quarter. Tidal Investments LLC now owns 9,917 shares of the company’s stock worth $324,000 after acquiring an additional 1,377 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Stoke Therapeutics during the 2nd quarter valued at $959,000. Corient Private Wealth LP purchased a new stake in Stoke Therapeutics during the 2nd quarter worth about $1,009,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Stoke Therapeutics during the 2nd quarter valued at about $443,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Stoke Therapeutics during the second quarter valued at about $255,000.

About Stoke Therapeutics

Stoke Therapeutics, Inc is a biotechnology company focused on developing RNA-based medicines for severe genetic diseases. The company’s approach is designed to increase the production of functional proteins by selectively targeting RNA splicing, a process that helps determine how genetic information is translated into proteins.

Stoke’s technology is based on its TANGO platform, which uses antisense oligonucleotides to promote the inclusion of productive genetic sequences in messenger RNA.