Needham & Company LLC Reiterates Buy Rating for Stoke Therapeutics (NASDAQ:STOK)

Needham & Company LLC reaffirmed their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research note released on Wednesday,Benzinga reports. They currently have a $22.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a report on Wednesday. Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Wedbush reaffirmed an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. Finally, Leerink Partners started coverage on shares of Stoke Therapeutics in a research report on Monday, October 14th. They set an “outperform” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $20.83.

Stoke Therapeutics Stock Performance

Shares of NASDAQ STOK opened at $13.88 on Wednesday. The company has a market cap of $735.22 million, a PE ratio of -6.61 and a beta of 0.95. The firm’s 50 day moving average price is $13.21 and its 200-day moving average price is $13.72. Stoke Therapeutics has a 52-week low of $3.77 and a 52-week high of $17.58.

Stoke Therapeutics (NASDAQ:STOK) last issued its earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The business had revenue of $4.89 million during the quarter, compared to analyst estimates of $3.46 million. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. On average, analysts forecast that Stoke Therapeutics will post -2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Skorpios Trust sold 1,937,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $14.05, for a total value of $27,221,875.00. Following the transaction, the insider now directly owns 8,906,181 shares of the company’s stock, valued at approximately $125,131,843.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stoke Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in shares of Stoke Therapeutics by 53.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after acquiring an additional 1,038 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Stoke Therapeutics by 5.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,431 shares of the company’s stock worth $425,000 after purchasing an additional 1,642 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Stoke Therapeutics by 16.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after purchasing an additional 1,994 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Stoke Therapeutics during the second quarter valued at about $29,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Stoke Therapeutics by 7.2% in the second quarter. Los Angeles Capital Management LLC now owns 66,765 shares of the company’s stock worth $902,000 after purchasing an additional 4,508 shares during the last quarter.

Stoke Therapeutics Company Profile

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.