Stoke Therapeutics (NASDAQ:STOK) Shares Down 5.9% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK – Get Free Report)’s share price was down 5.9% on Tuesday. The company traded as low as $23.96 and last traded at $23.8290. 70,029 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 782,017 shares. The stock had previously closed at $25.32.

Wall Street Analysts Forecast Growth

STOK has been the topic of a number of research reports. Chardan Capital restated a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Canaccord Genuity Group dropped their price objective on Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Wedbush boosted their price target on shares of Stoke Therapeutics from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Stoke Therapeutics in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Check Out Our Latest Stock Analysis on STOK

Stoke Therapeutics Price Performance

The firm has a market capitalization of $1.54 billion, a PE ratio of -7.13 and a beta of 1.26. The business’s 50-day moving average price is $29.83 and its 200-day moving average price is $31.10.

Stoke Therapeutics (NASDAQ:STOK – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.13). Stoke Therapeutics had a negative net margin of 753.60% and a negative return on equity of 59.36%. The company had revenue of $9.32 million during the quarter, compared to analyst estimates of $4.89 million. Equities analysts forecast that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Insiders Place Their Bets

In other Stoke Therapeutics news, Director Edward M. Md Kaye sold 12,567 shares of the stock in a transaction 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 completion of the transaction, the director owned 124,557 shares in the company, valued at approximately $3,989,560.71. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Barry Ticho sold 7,176 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $29.04, for a total transaction of $208,391.04. Following the completion of the sale, the insider owned 20,422 shares of the company’s stock, valued at $593,054.88. This trade represents a 26.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 34,594 shares of company stock worth $1,069,305. 9.60% of the stock is owned by insiders.

Institutional Trading of Stoke Therapeutics

Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Stoke Therapeutics in the second quarter valued at approximately $34,000. KBC Group NV acquired a new position in Stoke Therapeutics in the first quarter valued at $36,000. Harbour Investments Inc. grew its stake in Stoke Therapeutics by 312.9% during the fourth quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock worth $38,000 after buying an additional 898 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Stoke Therapeutics in the first quarter valued at about $55,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Stoke Therapeutics by 195.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,837 shares of the company’s stock valued at $60,000 after purchasing an additional 1,215 shares during the period.

Stoke Therapeutics Company Profile

(Get Free Report)

Stoke Therapeutics, Inc is a biotechnology company developing genetic medicines for severe diseases caused by inadequate protein expression. The company’s approach, known as TANGO (Targeted Augmentation of Nuclear Gene Output), uses antisense oligonucleotides to selectively modulate pre-messenger RNA splicing and increase production of functional proteins from disease-associated genes.

Stoke’s lead program is zorevunersen (STK-001), an investigational antisense oligonucleotide designed to increase functional NaV1.1 protein expression in people with Dravet syndrome, a severe genetic epilepsy caused primarily by mutations in the SCN1A gene.

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