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

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $22.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 125.85% from the company’s previous close.

Several other research firms have also commented on STOK. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, January 8th. Chardan Capital assumed coverage on shares of Stoke Therapeutics in a research note on Friday, December 20th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Stoke Therapeutics presently has an average rating of “Buy” and an average price target of $23.00.

Stoke Therapeutics Price Performance

STOK traded down $0.94 during trading on Tuesday, hitting $9.74. The company’s stock had a trading volume of 1,405,755 shares, compared to its average volume of 839,443. Stoke Therapeutics has a twelve month low of $5.14 and a twelve month high of $17.58. The stock has a market cap of $515.98 million, a PE ratio of -4.64 and a beta of 0.95. The firm’s 50 day moving average price is $10.84 and its 200-day moving average price is $12.40.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, CEO Edward M. Md Kaye sold 6,170 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $12.78, for a total transaction of $78,852.60. Following the transaction, the chief executive officer now owns 68,671 shares in the company, valued at $877,615.38. The trade was a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Barry Ticho sold 2,586 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $12.99, for a total value of $33,592.14. Following the completion of the sale, the insider now owns 44,746 shares of the company’s stock, valued at approximately $581,250.54. This trade represents a 5.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,849 shares of company stock worth $809,421. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. acquired a new position in shares of Stoke Therapeutics during the third quarter worth $192,000. Los Angeles Capital Management LLC boosted its position in Stoke Therapeutics by 54.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 103,005 shares of the company’s stock valued at $1,266,000 after buying an additional 36,240 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Stoke Therapeutics during the third quarter valued at about $160,000. Charles Schwab Investment Management Inc. increased its position in shares of Stoke Therapeutics by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 316,134 shares of the company’s stock worth $3,885,000 after acquiring an additional 26,870 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Stoke Therapeutics by 1,589.7% in the third quarter. BNP Paribas Financial Markets now owns 76,154 shares of the company’s stock worth $936,000 after acquiring an additional 71,647 shares in 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.