Stoke Therapeutics (NASDAQ:STOK) Shares Down 2.9% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price was down 2.9% on Tuesday . The stock traded as low as $11.10 and last traded at $11.27. Approximately 121,581 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 749,464 shares. The stock had previously closed at $11.61.

Analyst Ratings Changes

A number of equities analysts recently issued reports on STOK shares. Leerink Partners began coverage on shares of Stoke Therapeutics in a report on Monday, October 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Leerink Partnrs upgraded shares of Stoke Therapeutics to a “strong-buy” rating in a research note on Friday, October 11th. Chardan Capital began coverage on shares of Stoke Therapeutics in a research report on Friday, December 20th. They set a “buy” rating and a $24.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a report on Tuesday, December 10th. Finally, HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Stoke Therapeutics has an average rating of “Buy” and an average price target of $21.29.

Stoke Therapeutics Price Performance

The firm’s 50-day moving average price is $12.40 and its 200-day moving average price is $13.45. The stock has a market cap of $599.59 million, a P/E ratio of -5.39 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last posted its earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.05. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. The company had revenue of $4.89 million during the quarter, compared to analysts’ expectations of $3.46 million. Sell-side analysts expect that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current year.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, insider Barry Ticho sold 10,000 shares of Stoke Therapeutics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $12.07, for a total value of $120,700.00. Following the completion of the transaction, the insider now directly owns 51,277 shares of the company’s stock, valued at $618,913.39. This trade represents a 16.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Jonathan Allan sold 13,666 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $13.61, for a total transaction of $185,994.26. Following the completion of the transaction, the general counsel now directly owns 21,476 shares of the company’s stock, valued at approximately $292,288.36. The trade was a 38.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,849 shares of company stock valued at $809,421. Insiders own 11.30% of the company’s stock.

Institutional Trading of Stoke Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STOK. Exome Asset Management LLC bought a new position in shares of Stoke Therapeutics during the third quarter valued at approximately $2,170,000. Barclays PLC grew its position in Stoke Therapeutics by 145.3% in the 3rd quarter. Barclays PLC now owns 79,740 shares of the company’s stock valued at $980,000 after acquiring an additional 47,239 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Stoke Therapeutics by 9.7% during the third quarter. Geode Capital Management LLC now owns 870,831 shares of the company’s stock worth $10,705,000 after purchasing an additional 76,661 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Stoke Therapeutics by 338.2% during the third quarter. Jane Street Group LLC now owns 330,442 shares of the company’s stock valued at $4,061,000 after purchasing an additional 255,028 shares during the period. Finally, State Street Corp grew its holdings in shares of Stoke Therapeutics by 8.6% in the third quarter. State Street Corp now owns 1,728,888 shares of the company’s stock worth $21,248,000 after purchasing an additional 137,145 shares during the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.