Palo Alto Investors LP acquired a new stake in Stoke Therapeutics, Inc. (NASDAQ:STOK – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 84,631 shares of the company’s stock, valued at approximately $2,769,126,000. Palo Alto Investors LP owned about 0.13% of Stoke Therapeutics at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Stoke Therapeutics by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,167 shares of the company’s stock worth $162,000 after purchasing an additional 1,149 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Stoke Therapeutics by 21.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock valued at $11,053,000 after buying an additional 293,072 shares during the last quarter. Jane Street Group LLC raised its stake in Stoke Therapeutics by 125.2% in the first quarter. Jane Street Group LLC now owns 26,978 shares of the company’s stock valued at $179,000 after buying an additional 15,001 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Stoke Therapeutics by 26.6% in the second quarter. JPMorgan Chase & Co. now owns 25,655 shares of the company’s stock valued at $291,000 after buying an additional 5,398 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Stoke Therapeutics by 33.9% during the 2nd quarter. Rhumbline Advisers now owns 66,419 shares of the company’s stock worth $754,000 after buying an additional 16,820 shares during the last quarter.
Insiders Place Their Bets
In other news, insider Barry Ticho sold 7,176 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $29.04, for a total transaction of $208,391.04. Following the completion of the transaction, the insider directly owned 20,422 shares of the company’s stock, valued at approximately $593,054.88. This represents a 26.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 2,861 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total value of $91,637.83. Following the completion of the sale, the general counsel directly owned 21,225 shares of the company’s stock, valued at $679,836.75. This represents a 11.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 30,623 shares of company stock worth $953,765. Company insiders own 9.60% of the company’s stock.
Stoke Therapeutics Stock Performance
Stoke Therapeutics (NASDAQ:STOK – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.13). The firm had revenue of $9.32 million for the quarter, compared to analysts’ expectations of $4.89 million. Stoke Therapeutics had a negative return on equity of 59.36% and a negative net margin of 753.60%. Equities analysts forecast that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Stoke Therapeutics in a research report on Friday, August 21st. They set an “overweight” rating and a $40.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Stoke Therapeutics in a research report on Friday, August 7th. The Goldman Sachs Group began coverage on Stoke Therapeutics in a research note on Monday, July 13th. They set a “buy” rating and a $44.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $39.00 price target on shares of Stoke Therapeutics in a report on Monday, May 11th. Finally, Canaccord Genuity Group cut their price objective on shares of Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Stoke Therapeutics has an average rating of “Moderate Buy” and an average price target of $44.25.
Read Our Latest Stock Analysis on STOK
About Stoke Therapeutics
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.
Featured Articles
- Five stocks we like better than Stoke Therapeutics
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Want to see what other hedge funds are holding STOK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stoke Therapeutics, Inc. (NASDAQ:STOK – Free Report).
Receive News & Ratings for Stoke Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoke Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
