Stoke Therapeutics (NASDAQ:STOK) Stock Price Up 8.9% – Time to Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK) was up 8.9% during mid-day trading on Tuesday. The stock traded as high as $27.11 and last traded at $27.0250. Approximately 279,721 shares were traded during mid-day trading, a decline of 64% from the average session volume of 783,479 shares. The stock had previously closed at $24.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. Wedbush upped their target price on Stoke Therapeutics from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. began coverage on Stoke Therapeutics in a research note on Friday, August 21st. They issued an “overweight” rating and a $40.00 target price on the stock. Chardan Capital reiterated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group dropped their price target on Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Stoke Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Stoke Therapeutics Trading Up 8.3%

The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.05 and a beta of 1.26. The company’s 50 day simple moving average is $28.50 and its 200-day simple moving average is $30.49.

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

Insiders Place Their Bets

In other news, insider Barry Ticho sold 1,051 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $26.16, for a total transaction of $27,494.16. Following the sale, the insider owned 19,059 shares in the company, valued at $498,583.44. This trade represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 2,861 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total value of $91,637.83. Following the sale, the general counsel owned 21,225 shares in the company, valued at $679,836.75. This trade represents a 11.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 34,594 shares of company stock valued at $1,069,305. Company insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its stake in shares of Stoke Therapeutics by 22.6% in the second quarter. Versant Capital Management Inc now owns 1,951 shares of the company’s stock valued at $64,000 after buying an additional 359 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Stoke Therapeutics by 0.5% during the 1st quarter. First Trust Advisors LP now owns 163,459 shares of the company’s stock valued at $5,322,000 after buying an additional 780 shares during the period. Quantbot Technologies LP acquired a new position in Stoke Therapeutics during the 2nd quarter worth approximately $34,000. KBC Group NV acquired a new position in Stoke Therapeutics during the 1st quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Stoke Therapeutics by 195.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,837 shares of the company’s stock worth $60,000 after acquiring an additional 1,215 shares during the period.

Stoke Therapeutics Company Profile

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.