Stoke Therapeutics (NASDAQ:STOK) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 849,400 shares, a growth of 5.3% from the September 30th total of 806,300 shares. Currently, 5.5% of the company’s stock are short sold. Based on an average trading volume of 177,700 shares, the short-interest ratio is currently 4.8 days.
A number of equities analysts have weighed in on the company. BTIG Research assumed coverage on Stoke Therapeutics in a research report on Tuesday, November 12th. They set a “buy” rating and a $46.00 price target on the stock. HC Wainwright assumed coverage on Stoke Therapeutics in a research report on Friday, October 25th. They set a “buy” rating and a $30.00 price target on the stock. Cowen reissued a “buy” rating on shares of Stoke Therapeutics in a research report on Thursday, August 15th. Finally, Zacks Investment Research raised Stoke Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $35.33.
Shares of NASDAQ STOK opened at $23.74 on Tuesday. The stock’s 50 day simple moving average is $24.31. Stoke Therapeutics has a twelve month low of $19.21 and a twelve month high of $39.04.
Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. Equities analysts forecast that Stoke Therapeutics will post -2.09 EPS for the current year.
In related news, major shareholder Rtw Investments, Lp sold 16,434 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $28.70, for a total transaction of $471,655.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 205,216 shares of company stock worth $5,771,421 in the last quarter.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cormorant Asset Management LP acquired a new position in Stoke Therapeutics during the second quarter worth approximately $54,539,000. Perceptive Advisors LLC acquired a new position in shares of Stoke Therapeutics in the second quarter valued at approximately $19,601,000. Janus Henderson Group PLC acquired a new position in shares of Stoke Therapeutics in the second quarter valued at approximately $11,668,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Stoke Therapeutics in the second quarter valued at approximately $10,994,000. Finally, Orbimed Advisors LLC acquired a new position in shares of Stoke Therapeutics in the second quarter valued at approximately $3,792,000. 45.70% of the stock is currently owned by hedge funds and other institutional investors.
About Stoke Therapeutics
Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops antisense oligonucleotide medicines to treat the underlying causes of severe genetic diseases. Its lead product candidate, STK-001, to treat Dravet syndrome, a severe and progressive genetic epilepsy. Stoke Therapeutics, Inc has a partnership with Invitae Corporation to offer epilepsy panel testing.
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