HC Wainwright Reaffirms Buy Rating for Stoke Therapeutics (NASDAQ:STOK)

HC Wainwright reaffirmed their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a report released on Wednesday, Benzinga reports. The firm currently has a $35.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Leerink Partnrs raised shares of Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Wedbush reissued an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a research note on Thursday, July 11th. Leerink Partners started coverage on shares of Stoke Therapeutics in a research note on Monday, October 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $20.83.

Stoke Therapeutics Stock Up 1.5 %

Shares of STOK stock opened at $13.25 on Wednesday. The company has a market cap of $697.59 million, a P/E ratio of -6.08 and a beta of 0.95. The business has a 50 day moving average of $13.24 and a two-hundred day moving average of $13.70. Stoke Therapeutics has a 52 week low of $3.77 and a 52 week high of $17.58.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.11. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. The business had revenue of $4.83 million during the quarter, compared to analyst estimates of $3.33 million. Analysts expect that Stoke Therapeutics will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 1,937,500 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the completion of the transaction, the insider now directly owns 8,906,181 shares of the company’s stock, valued at approximately $125,131,843.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stoke Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lynx1 Capital Management LP grew its holdings in shares of Stoke Therapeutics by 40.3% in the 2nd quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock worth $70,052,000 after acquiring an additional 1,488,371 shares during the last quarter. Redmile Group LLC lifted its stake in Stoke Therapeutics by 93.2% during the first quarter. Redmile Group LLC now owns 5,073,049 shares of the company’s stock valued at $68,486,000 after buying an additional 2,447,543 shares in the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of Stoke Therapeutics by 65.9% in the first quarter. Baker BROS. Advisors LP now owns 3,368,443 shares of the company’s stock worth $45,474,000 after buying an additional 1,338,309 shares during the period. Vanguard Group Inc. increased its position in shares of Stoke Therapeutics by 4.1% in the first quarter. Vanguard Group Inc. now owns 1,715,554 shares of the company’s stock worth $23,160,000 after acquiring an additional 67,052 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Stoke Therapeutics during the second quarter valued at approximately $19,835,000.

About Stoke Therapeutics

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.