Rhenman & Partners Asset Management AB Lowers Position in Stoke Therapeutics, Inc. $STOK

Rhenman & Partners Asset Management AB cut its stake in Stoke Therapeutics, Inc. (NASDAQ:STOK) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,000 shares of the company’s stock after selling 34,000 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.38% of Stoke Therapeutics worth $6,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strs Ohio raised its stake in shares of Stoke Therapeutics by 9.4% in the fourth quarter. Strs Ohio now owns 7,000 shares of the company’s stock worth $222,000 after purchasing an additional 600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Stoke Therapeutics by 31.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,776 shares of the company’s stock worth $88,000 after purchasing an additional 658 shares during the last quarter. Generali Investments Management Co LLC raised its stake in shares of Stoke Therapeutics by 41.0% in the fourth quarter. Generali Investments Management Co LLC now owns 2,471 shares of the company’s stock worth $78,000 after purchasing an additional 718 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Stoke Therapeutics by 312.9% in the fourth quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock worth $38,000 after purchasing an additional 898 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Stoke Therapeutics by 11.4% in the fourth quarter. ProShare Advisors LLC now owns 10,721 shares of the company’s stock worth $340,000 after purchasing an additional 1,099 shares during the last quarter.

Insider Transactions at Stoke Therapeutics

In related news, insider Barry Ticho sold 6,686 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $31.34, for a total value of $209,539.24. Following the transaction, the insider owned 40,798 shares in the company, valued at approximately $1,278,609.32. This represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Hoitt sold 1,931 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $31.34, for a total value of $60,517.54. Following the completion of the transaction, the insider owned 10,276 shares in the company, valued at approximately $322,049.84. The trade was a 15.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,291 shares of company stock worth $1,064,065 in the last ninety days. Company insiders own 9.50% of the company’s stock.

Stoke Therapeutics Stock Up 1.6%

Shares of NASDAQ STOK opened at $29.82 on Friday. Stoke Therapeutics, Inc. has a twelve month low of $11.17 and a twelve month high of $40.22. The stock’s 50 day moving average price is $32.24 and its 200-day moving average price is $32.36. The company has a market capitalization of $1.86 billion, a PE ratio of -10.61 and a beta of 1.17.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results on Thursday, May 7th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.01. Stoke Therapeutics had a negative return on equity of 48.84% and a negative net margin of 529.20%.The firm had revenue of $6.23 million for the quarter, compared to the consensus estimate of $6.48 million. As a group, research analysts expect that Stoke Therapeutics, Inc. will post -3.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on STOK. BTIG Research reissued a “buy” rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a research note on Monday, May 11th. Chardan Capital restated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, March 18th. Wolfe Research started coverage on Stoke Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $40.00 target price on the stock. Needham & Company LLC boosted their target price on Stoke Therapeutics from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings downgraded Stoke Therapeutics from a “hold (c)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.83.

Stoke Therapeutics 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.