Stoke Therapeutics (NASDAQ:STOK) Shares Gap Down – Here’s What Happened

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) gapped down before the market opened on Monday . The stock had previously closed at $32.85, but opened at $27.40. Stoke Therapeutics shares last traded at $26.66, with a volume of 334,987 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STOK shares. Needham & Company LLC lifted their price target on Stoke Therapeutics from $22.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Canaccord Genuity Group raised their target price on shares of Stoke Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, January 5th. BTIG Research reiterated a “buy” rating and set a $39.00 price target on shares of Stoke Therapeutics in a report on Wednesday, November 5th. Wedbush increased their price target on shares of Stoke Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Chardan Capital boosted their price objective on shares of Stoke Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.10.

Stoke Therapeutics Stock Performance

The stock has a market cap of $1.62 billion, a P/E ratio of 42.17 and a beta of 1.10. The firm has a 50-day moving average price of $30.17 and a 200-day moving average price of $23.82.

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

Insider Buying and Selling at Stoke Therapeutics

In other news, Director Edward M. Md Kaye sold 13,430 shares of Stoke Therapeutics stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $32.27, for a total transaction of $433,386.10. Following the completion of the transaction, the director directly owned 49,124 shares in the company, valued at approximately $1,585,231.48. This trade represents a 21.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barry Ticho sold 5,931 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $25.72, for a total value of $152,545.32. Following the completion of the sale, the insider directly owned 7,195 shares in the company, valued at approximately $185,055.40. This represents a 45.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 104,705 shares of company stock valued at $3,070,910 in the last quarter. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Stoke Therapeutics

Several large investors have recently bought and sold shares of STOK. Generali Investments Management Co LLC purchased a new position in Stoke Therapeutics during the third quarter valued at $41,000. BNP Paribas Financial Markets raised its stake in shares of Stoke Therapeutics by 66.2% in the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock worth $48,000 after buying an additional 1,668 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Stoke Therapeutics by 461.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock valued at $50,000 after acquiring an additional 3,591 shares during the period. Osaic Holdings Inc. increased its holdings in Stoke Therapeutics by 263.3% in the 2nd quarter. Osaic Holdings Inc. now owns 7,488 shares of the company’s stock worth $85,000 after acquiring an additional 5,427 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Stoke Therapeutics by 33.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,558 shares of the company’s stock worth $108,000 after acquiring an additional 2,384 shares during the period.

Stoke Therapeutics Company Profile

Stoke Therapeutics, headquartered in Bedford, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing genetic medicines to upregulate protein production for the treatment of rare neuromuscular and neurological disorders. Founded in 2014, the company applies its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO™) platform to design antisense oligonucleotides that selectively modulate RNA splicing and enhance expression of functional proteins.

The company’s lead program, STK-001, is an antisense oligonucleotide therapy designed to increase production of the sodium channel protein SCN1A and is currently in clinical development for Dravet syndrome, a severe childhood-onset epilepsy.