Stoke Therapeutics (NASDAQ:STOK) Trading 7.6% Higher – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares shot up 7.6% during trading on Tuesday . The stock traded as high as $28.28 and last traded at $29.0040. 406,188 shares traded hands during trading, a decline of 56% from the average session volume of 912,906 shares. The stock had previously closed at $26.95.

Wall Street Analyst Weigh In

STOK has been the topic of a number of analyst reports. Wedbush increased their price target on Stoke Therapeutics from $22.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Stoke Therapeutics in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Stoke Therapeutics from $15.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Chardan Capital reissued a “buy” rating and issued a $24.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Finally, BTIG Research restated a “buy” rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Stoke Therapeutics Stock Up 7.7%

The company has a market cap of $1.66 billion, a PE ratio of 43.46 and a beta of 1.32. The firm has a fifty day simple moving average of $27.08 and a 200-day simple moving average of $17.94.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results on Tuesday, November 4th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.11). Stoke Therapeutics had a net margin of 19.73% and a return on equity of 13.28%. The business had revenue of $10.63 million during the quarter, compared to analysts’ expectations of $6.06 million. Equities research analysts forecast that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Jonathan Allan sold 10,000 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $25.07, for a total transaction of $250,700.00. Following the completion of the transaction, the general counsel directly owned 11,831 shares of the company’s stock, valued at $296,603.17. This represents a 45.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward M. Md Kaye sold 25,000 shares of Stoke Therapeutics stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $30.00, for a total value of $750,000.00. Following the completion of the sale, the director directly owned 49,124 shares in the company, valued at $1,473,720. This represents a 33.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 172,895 shares of company stock valued at $4,018,530 over the last three months. 9.50% of the stock is currently owned by company insiders.

Institutional Trading of Stoke Therapeutics

Institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co raised its position in Stoke Therapeutics by 12.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 11,978 shares of the company’s stock worth $296,000 after acquiring an additional 1,313 shares in the last quarter. Polar Capital Holdings Plc grew its stake in shares of Stoke Therapeutics by 49.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,323,470 shares of the company’s stock worth $31,102,000 after purchasing an additional 439,824 shares during the period. Parkman Healthcare Partners LLC purchased a new position in shares of Stoke Therapeutics in the 3rd quarter valued at about $5,875,000. Nomura Holdings Inc. purchased a new position in shares of Stoke Therapeutics in the 3rd quarter valued at about $1,908,000. Finally, Millennium Management LLC lifted its stake in shares of Stoke Therapeutics by 199.3% in the third quarter. Millennium Management LLC now owns 61,048 shares of the company’s stock valued at $1,435,000 after purchasing an additional 40,652 shares during the period.

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.