Stoke Therapeutics (NASDAQ:STOK) Trading 9.7% Higher – Time to Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares traded up 9.7% during mid-day trading on Wednesday . The company traded as high as $9.56 and last traded at $9.52. 982,181 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 1,100,906 shares. The stock had previously closed at $8.68.

Analysts Set New Price Targets

Several brokerages have recently commented on STOK. Cantor Fitzgerald reiterated an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. Leerink Partners began coverage on shares of Stoke Therapeutics in a research report on Monday, October 14th. They set an “outperform” rating and a $18.00 price target on the stock. 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 target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $21.29.

Stoke Therapeutics Price Performance

The business has a 50 day moving average price of $11.58 and a two-hundred day moving average price of $12.92. The stock has a market cap of $495.80 million, a PE ratio of -4.46 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.05. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. The business had revenue of $4.89 million during the quarter, compared to analysts’ expectations of $3.46 million. On average, sell-side analysts forecast that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Transactions at Stoke Therapeutics

In related news, CEO Edward M. Md Kaye sold 6,786 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $12.99, for a total transaction of $88,150.14. Following the completion of the transaction, the chief executive officer now owns 61,885 shares in the company, valued at $803,886.15. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 47,332 shares of the company’s stock, valued at $604,902.96. The trade was a 22.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders 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

Several hedge funds and other institutional investors have recently modified their holdings of STOK. Assenagon Asset Management S.A. lifted its holdings in Stoke Therapeutics by 2.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,350,925 shares of the company’s stock worth $14,901,000 after buying an additional 38,446 shares during the period. Exome Asset Management LLC bought a new position in shares of Stoke Therapeutics in the 3rd quarter worth approximately $2,170,000. Barclays PLC lifted its stake in shares of Stoke Therapeutics by 145.3% in the 3rd quarter. Barclays PLC now owns 79,740 shares of the company’s stock valued at $980,000 after purchasing an additional 47,239 shares during the period. Geode Capital Management LLC boosted its position in shares of Stoke Therapeutics by 9.7% during the third quarter. Geode Capital Management LLC now owns 870,831 shares of the company’s stock valued at $10,705,000 after purchasing an additional 76,661 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Stoke Therapeutics by 338.2% in the third quarter. Jane Street Group LLC now owns 330,442 shares of the company’s stock worth $4,061,000 after purchasing an additional 255,028 shares during the period.

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.