Stoke Therapeutics (NASDAQ:STOK) Shares Gap Up – Still a Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $11.43, but opened at $11.89. Stoke Therapeutics shares last traded at $13.18, with a volume of 172,442 shares.

Wall Street Analyst Weigh In

STOK has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Stoke Therapeutics in a report on Wednesday, November 6th. Leerink Partners assumed coverage on shares of Stoke Therapeutics in a report on Monday, October 14th. They set an “outperform” rating and a $18.00 price target for the company. Leerink Partnrs raised shares of Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $20.83.

Stoke Therapeutics Price Performance

The company’s 50 day moving average price is $12.39 and its 200 day moving average price is $13.75. The firm has a market capitalization of $679.61 million, a P/E ratio of -6.28 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.05. The business had revenue of $4.89 million for 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, research analysts anticipate that Stoke Therapeutics, Inc. will post -2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Skorpios Trust sold 1,937,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total value of $27,221,875.00. Following the completion of the transaction, the insider now owns 8,906,181 shares in the company, valued at $125,131,843.05. This trade represents a 17.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barry Ticho sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $12.07, for a total value of $120,700.00. Following the completion of the sale, the insider now owns 51,277 shares in the company, valued at $618,913.39. The trade was a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.30% of the company’s stock.

Institutional Trading of Stoke Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lynx1 Capital Management LP raised its holdings in shares of Stoke Therapeutics by 40.3% in the second quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock valued at $70,052,000 after purchasing an additional 1,488,371 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Stoke Therapeutics in the second quarter valued at about $19,835,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Stoke Therapeutics by 426.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,387,200 shares of the company’s stock worth $18,741,000 after purchasing an additional 1,123,500 shares during the last quarter. Logos Global Management LP bought a new position in Stoke Therapeutics during the second quarter valued at $14,186,000. Finally, Marshall Wace LLP grew its stake in shares of Stoke Therapeutics by 550.1% during the 2nd quarter. Marshall Wace LLP now owns 1,161,037 shares of the company’s stock worth $15,686,000 after acquiring an additional 982,451 shares during the period.

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.