Stoke Therapeutics (NASDAQ:STOK) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Stoke Therapeutics (NASDAQ:STOK) released its quarterly earnings results on Tuesday. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.09), Zacks reports. Stoke Therapeutics had a return on equity of 18.32% and a net margin of 26.25%.

Stoke Therapeutics Stock Performance

Shares of STOK traded down $0.76 during trading hours on Tuesday, hitting $25.34. The stock had a trading volume of 1,257,191 shares, compared to its average volume of 899,893. Stoke Therapeutics has a 12-month low of $5.35 and a 12-month high of $38.69. The firm has a market cap of $1.39 billion, a P/E ratio of 29.81 and a beta of 1.32. The company’s fifty day simple moving average is $26.16 and its 200 day simple moving average is $16.86.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STOK. BTIG Research boosted their price objective on shares of Stoke Therapeutics from $28.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Jefferies Financial Group assumed coverage on Stoke Therapeutics in a report on Friday, July 18th. They issued a “buy” rating and a $30.00 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Stoke Therapeutics in a research note on Wednesday, October 8th. Wedbush lifted their price objective on Stoke Therapeutics from $16.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. upped their target price on Stoke Therapeutics from $15.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Insiders Place Their Bets

In other news, General Counsel Jonathan Allan sold 10,000 shares of Stoke Therapeutics stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $25.07, for a total value of $250,700.00. Following the transaction, the general counsel directly owned 11,831 shares of the company’s stock, valued at $296,603.17. The trade was a 45.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Barry Ticho sold 5,501 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $19.87, for a total value of $109,304.87. Following the sale, the insider owned 18,469 shares of the company’s stock, valued at $366,979.03. The trade was a 22.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 180,676 shares of company stock worth $4,071,664 over the last three months. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC acquired a new position in shares of Stoke Therapeutics during the 2nd quarter valued at $7,489,000. Goldman Sachs Group Inc. raised its position in Stoke Therapeutics by 21.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock valued at $11,053,000 after purchasing an additional 293,072 shares during the period. Opaleye Management Inc. raised its position in Stoke Therapeutics by 87.4% in the second quarter. Opaleye Management Inc. now owns 562,120 shares of the company’s stock valued at $6,380,000 after purchasing an additional 262,120 shares during the period. MPM Bioimpact LLC lifted its stake in shares of Stoke Therapeutics by 13.8% during the second quarter. MPM Bioimpact LLC now owns 789,698 shares of the company’s stock worth $8,963,000 after purchasing an additional 95,710 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Stoke Therapeutics during the second quarter worth about $378,000.

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.