Jupiter Topco LLC acquired a new position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,814,408 shares of the company’s stock, valued at approximately $59,358,000. Jupiter Topco LLC owned approximately 2.81% of Stoke Therapeutics at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parkman Healthcare Partners LLC acquired a new stake in Stoke Therapeutics in the second quarter valued at approximately $11,630,000. Legal & General Group Plc acquired a new position in shares of Stoke Therapeutics during the second quarter worth $1,168,000. The Manufacturers Life Insurance Company acquired a new position in shares of Stoke Therapeutics during the second quarter worth $2,165,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Stoke Therapeutics during the second quarter worth $982,000. Finally, Quantbot Technologies LP bought a new position in shares of Stoke Therapeutics in the 2nd quarter valued at $34,000.
Stoke Therapeutics Stock Down 1.5%
NASDAQ STOK opened at $32.59 on Friday. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -9.76 and a beta of 1.20. Stoke Therapeutics, Inc. has a twelve month low of $18.80 and a twelve month high of $40.22. The stock has a fifty day simple moving average of $31.21 and a 200 day simple moving average of $32.26.
Insider Activity
In related news, Director Edward M. Md Kaye sold 12,567 shares of Stoke Therapeutics stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total value of $402,521.01. Following the transaction, the director directly owned 124,557 shares of the company’s stock, valued at $3,989,560.71. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Barry Ticho sold 4,767 shares of the company’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 $152,687.01. Following the completion of the sale, the insider owned 25,655 shares in the company, valued at $821,729.65. The trade was a 15.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 30,623 shares of company stock valued at $953,765. Company insiders own 9.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Canaccord Genuity Group lowered their target price on Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. Wedbush boosted their price target on Stoke Therapeutics from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Chardan Capital restated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group started coverage on Stoke Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $44.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.
Read Our Latest Report on Stoke Therapeutics
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.
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