Stoke Therapeutics (NASDAQ:STOK) Trading Down 6.6% After Insider Selling

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price was down 6.6% during mid-day trading on Friday following insider selling activity. The stock traded as low as $34.69 and last traded at $34.0860. Approximately 130,341 shares changed hands during trading, a decline of 82% from the average daily volume of 720,330 shares. The stock had previously closed at $36.48.

Specifically, Director Adrian R. Krainer sold 33,243 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $39.74, for a total value of $1,321,076.82. Following the completion of the sale, the director owned 283,302 shares in the company, valued at approximately $11,258,421.48. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Arthur Tzianabos sold 4,355 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $40.00, for a total transaction of $174,200.00. Following the transaction, the insider owned 31,339 shares in the company, valued at approximately $1,253,560. This represents a 12.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

A number of equities analysts recently commented on STOK shares. Guggenheim assumed coverage on shares of Stoke Therapeutics in a research note on Thursday, February 5th. They issued a “buy” rating and a $60.00 price objective for the company. UBS Group set a $50.00 target price on Stoke Therapeutics in a research report on Monday, December 15th. Wedbush lifted their price target on Stoke Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Loop Capital set a $35.00 price target on Stoke Therapeutics in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Stoke Therapeutics in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Stoke Therapeutics Stock Down 9.0%

The firm has a market cap of $1.90 billion, a PE ratio of 49.54 and a beta of 1.07. The stock has a 50 day moving average price of $32.71 and a two-hundred day moving average price of $29.56.

Institutional Trading of Stoke Therapeutics

Institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in Stoke Therapeutics during the 4th quarter valued at approximately $26,000. Harbour Investments Inc. lifted its stake in shares of 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. Generali Investments Management Co LLC acquired a new stake in shares of Stoke Therapeutics during the third quarter worth $41,000. BNP Paribas Financial Markets grew its holdings in shares of Stoke Therapeutics by 66.2% during the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock valued at $48,000 after buying an additional 1,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Stoke Therapeutics by 461.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock valued at $50,000 after buying an additional 3,591 shares during the last quarter.

About Stoke Therapeutics

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.