Stoke Therapeutics (NASDAQ:STOK) Shares Gap Down – Here’s Why

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) gapped down before the market opened on Tuesday . The stock had previously closed at $11.02, but opened at $9.82. Stoke Therapeutics shares last traded at $9.69, with a volume of 448,132 shares changing hands.

Analysts Set New Price Targets

STOK has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. Leerink Partners assumed coverage on shares of Stoke Therapeutics in a report on Monday, October 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Chardan Capital started coverage on shares of Stoke Therapeutics in a research note on Friday, December 20th. They set a “buy” rating and a $24.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Stoke Therapeutics in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a report on Wednesday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $21.29.

Stoke Therapeutics Trading Down 3.8 %

The company has a market capitalization of $474.58 million, a price-to-earnings ratio of -4.27 and a beta of 0.95. The stock’s fifty day simple moving average is $12.05 and its 200-day simple moving average is $13.11.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings data 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 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, analysts anticipate that Stoke Therapeutics, Inc. will post -2.03 EPS for the current fiscal year.

Insider Activity

In other Stoke Therapeutics news, insider Barry Ticho sold 13,945 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $12.78, for a total value of $178,217.10. Following the sale, the insider now directly owns 47,332 shares in the company, valued at $604,902.96. This trade represents a 22.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward M. Md Kaye sold 6,170 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $12.78, for a total value of $78,852.60. Following the transaction, the chief executive officer now directly owns 68,671 shares of the company’s stock, valued at approximately $877,615.38. This represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,849 shares of company stock worth $809,421. 11.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stoke Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in STOK. Quest Partners LLC acquired a new position in Stoke Therapeutics in the second quarter valued at approximately $29,000. Intech Investment Management LLC acquired a new position in shares of Stoke Therapeutics in the 3rd quarter valued at $160,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Stoke Therapeutics by 16.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after buying an additional 1,994 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in shares of Stoke Therapeutics in the 3rd quarter valued at $192,000. Finally, Profund Advisors LLC acquired a new stake in Stoke Therapeutics during the 2nd quarter worth $201,000.

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.