Stoke Therapeutics (NASDAQ:STOK) Research Coverage Started at Guggenheim

Guggenheim began coverage on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $60.00 price target on the stock.

A number of other research analysts have also recently weighed in on STOK. HC Wainwright raised their price objective on shares of Stoke Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. UBS Group set a $50.00 price target on Stoke Therapeutics in a research report on Monday, December 15th. BTIG Research restated a “buy” rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, November 5th. Canaccord Genuity Group lifted their price objective on Stoke Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Loop Capital set a $35.00 target price on shares of Stoke Therapeutics in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.18.

Stoke Therapeutics Stock Up 6.3%

NASDAQ:STOK opened at $32.40 on Thursday. The company has a market capitalization of $1.85 billion, a PE ratio of 48.36 and a beta of 1.10. Stoke Therapeutics has a 52-week low of $5.35 and a 52-week high of $38.69. The stock has a fifty day simple moving average of $31.46 and a 200-day simple moving average of $26.28.

Insider Activity at Stoke Therapeutics

In other news, Director Adrian R. Krainer sold 40,472 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $26.98, for a total transaction of $1,091,934.56. Following the transaction, the director directly owned 364,246 shares in the company, valued at $9,827,357.08. This represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Barry Ticho sold 3,662 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $31.34, for a total transaction of $114,767.08. Following the completion of the sale, the insider directly owned 19,798 shares in the company, valued at $620,469.32. This represents a 15.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 98,774 shares of company stock worth $2,918,365. 9.50% of the stock is owned by insiders.

Institutional Trading of Stoke Therapeutics

Institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC purchased a new position in shares of Stoke Therapeutics in the 2nd quarter worth $7,489,000. Wellington Management Group LLP increased its stake in Stoke Therapeutics by 438.2% during the third quarter. Wellington Management Group LLP now owns 737,753 shares of the company’s stock worth $17,337,000 after acquiring an additional 600,687 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Stoke Therapeutics by 49.8% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,323,470 shares of the company’s stock worth $31,102,000 after purchasing an additional 439,824 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Stoke Therapeutics by 67.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 900,272 shares of the company’s stock worth $21,156,000 after purchasing an additional 362,299 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Stoke Therapeutics by 21.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock valued at $11,053,000 after purchasing an additional 293,072 shares in the last quarter.

Stoke Therapeutics Company 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.