Stoke Therapeutics, Inc. (NASDAQ:STOK – Get Free Report) shares saw strong trading volume on Tuesday . Approximately 2,540,845 shares were traded during mid-day trading, an increase of 252% from the previous session’s volume of 722,576 shares.The stock last traded at $32.8930 and had previously closed at $32.39.
Analysts Set New Price Targets
Several analysts have commented on STOK shares. Wall Street Zen downgraded shares of Stoke Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. BTIG Research reissued a “buy” rating and set a $39.00 price objective on shares of Stoke Therapeutics in a research report on Monday, May 11th. Canaccord Genuity Group raised their price objective on shares of Stoke Therapeutics from $36.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Wedbush boosted their price objective on shares of Stoke Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, March 18th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Stoke Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $41.83.
Check Out Our Latest Stock Analysis on STOK
Stoke Therapeutics Trading Up 1.1%
Stoke Therapeutics (NASDAQ:STOK – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.01. The business had revenue of $6.23 million for the quarter, compared to analyst estimates of $6.48 million. Stoke Therapeutics had a negative net margin of 529.20% and a negative return on equity of 48.84%. Analysts anticipate that Stoke Therapeutics, Inc. will post -3.22 earnings per share for the current fiscal year.
Insider Transactions at Stoke Therapeutics
In related news, General Counsel Jonathan Allan sold 1,457 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $29.95, for a total transaction of $43,637.15. Following the sale, the general counsel owned 18,086 shares in the company, valued at approximately $541,675.70. This represents a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Barry Ticho sold 1,795 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $30.58, for a total value of $54,891.10. Following the transaction, the insider directly owned 34,826 shares of the company’s stock, valued at $1,064,979.08. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.50% of the company’s stock.
Hedge Funds Weigh In On Stoke Therapeutics
Institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in Stoke Therapeutics by 333.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,450,933 shares of the company’s stock valued at $46,031,000 after acquiring an additional 1,116,452 shares during the last quarter. State Street Corp raised its holdings in shares of Stoke Therapeutics by 75.2% in the 4th quarter. State Street Corp now owns 2,498,049 shares of the company’s stock valued at $79,288,000 after purchasing an additional 1,072,176 shares during the period. Corient Private Wealth LLC acquired a new stake in Stoke Therapeutics in the 2nd quarter valued at about $7,489,000. Troluce Capital Advisors LLC acquired a new stake in Stoke Therapeutics in the 1st quarter valued at about $21,255,000. Finally, BVF Inc. IL grew its holdings in Stoke Therapeutics by 36.7% during the fourth quarter. BVF Inc. IL now owns 2,265,674 shares of the company’s stock worth $71,912,000 after purchasing an additional 608,578 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 (TANGOâ„¢) 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.
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