Stoke Therapeutics (NASDAQ:STOK) Sets New 52-Week High on Analyst Upgrade

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price hit a new 52-week high during mid-day trading on Tuesday after BTIG Research raised their price target on the stock from $28.00 to $39.00. BTIG Research currently has a buy rating on the stock. Stoke Therapeutics traded as high as $32.75 and last traded at $33.08, with a volume of 869941 shares trading hands. The stock had previously closed at $30.34.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Stoke Therapeutics in a research note on Friday, July 18th. They set a “buy” rating and a $30.00 target price on the stock. Needham & Company LLC lifted their price target on shares of Stoke Therapeutics from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Stoke Therapeutics in a report on Wednesday, October 8th. Wedbush raised their target price on Stoke Therapeutics from $16.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Finally, Chardan Capital restated a “buy” rating and issued a $24.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Insider Activity at Stoke Therapeutics

In related news, General Counsel Jonathan Allan sold 10,000 shares of the stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $25.07, for a total transaction of $250,700.00. Following the transaction, the general counsel owned 11,831 shares of the company’s stock, valued at approximately $296,603.17. This represents a 45.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward M. Md Kaye sold 25,000 shares of Stoke Therapeutics stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $30.00, for a total value of $750,000.00. Following the completion of the transaction, the director directly owned 49,124 shares of the company’s stock, valued at approximately $1,473,720. This represents a 33.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,180 shares of company stock worth $4,129,406. 9.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stoke Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Stoke Therapeutics by 1,842.0% in the first quarter. GAMMA Investing LLC now owns 5,360 shares of the company’s stock worth $36,000 after acquiring an additional 5,084 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Stoke Therapeutics by 66.2% in the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock valued at $48,000 after purchasing an additional 1,668 shares during the period. Tower Research Capital LLC TRC grew its stake in Stoke Therapeutics by 461.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock worth $50,000 after purchasing an additional 3,591 shares in the last quarter. AlphaQuest LLC purchased a new stake in Stoke Therapeutics during the 1st quarter worth about $72,000. Finally, US Bancorp DE raised its position in Stoke Therapeutics by 9,743.9% in the 1st quarter. US Bancorp DE now owns 11,222 shares of the company’s stock valued at $75,000 after purchasing an additional 11,108 shares in the last quarter.

Stoke Therapeutics Stock Performance

The business has a 50-day simple moving average of $21.76 and a 200-day simple moving average of $14.22. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 41.11 and a beta of 1.24.

Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.17. The business had revenue of $13.82 million during the quarter, compared to the consensus estimate of $31.51 million. Stoke Therapeutics had a return on equity of 18.32% and a net margin of 26.25%. Research analysts anticipate that Stoke Therapeutics, Inc. will post -2.01 EPS for the current year.

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.