Stoke Therapeutics (NASDAQ:STOK) Stock Price Up 9.7% – Time to Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK) traded up 9.7% during trading on Wednesday . The stock traded as high as $9.56 and last traded at $9.52. 982,181 shares traded 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on STOK shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, January 8th. Chardan Capital began coverage on Stoke Therapeutics in a research note on Friday, December 20th. They issued a “buy” rating and a $24.00 price objective on the stock. Leerink Partners began coverage on Stoke Therapeutics in a research note on Monday, October 14th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Leerink Partnrs upgraded Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.29.

Stoke Therapeutics Stock Performance

The firm’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $12.97. The firm has a market cap of $502.66 million, a PE ratio of -4.52 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 analysts’ consensus estimates of ($0.52) by $0.05. The firm had revenue of $4.89 million during the quarter, compared to analysts’ expectations of $3.46 million. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. As a group, sell-side analysts predict that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Jonathan Allan sold 13,666 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $13.61, for a total transaction of $185,994.26. Following the completion of the sale, the general counsel now directly owns 21,476 shares of the company’s stock, valued at $292,288.36. This trade represents a 38.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Barry Ticho sold 2,586 shares of Stoke Therapeutics stock in a transaction on Monday, December 9th. The shares were sold at an average price of $12.99, for a total transaction of $33,592.14. Following the completion of the transaction, the insider now owns 44,746 shares in the company, valued at approximately $581,250.54. This trade represents a 5.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,849 shares of company stock worth $809,421 in the last quarter. 11.30% of the stock is owned by insiders.

Institutional Trading of Stoke Therapeutics

Several hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in Stoke Therapeutics during the second quarter worth about $29,000. Intech Investment Management LLC acquired a new stake in shares of Stoke Therapeutics in the 3rd quarter valued at approximately $160,000. The Manufacturers Life Insurance Company boosted its stake in shares of Stoke Therapeutics by 16.7% in the second 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. acquired a new position in Stoke Therapeutics during the third quarter worth $192,000. Finally, Profund Advisors LLC purchased a new position in Stoke Therapeutics in the second quarter worth $201,000.

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.