Stoke Therapeutics (NASDAQ:STOK) Trading Up 10.2% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares rose 10.2% on Thursday . The company traded as high as $33.65 and last traded at $34.1320. Approximately 863,075 shares were traded during trading, an increase of 24% from the average daily volume of 695,549 shares. The stock had previously closed at $30.98.

Analyst Ratings Changes

A number of research firms have commented on STOK. UBS Group set a $50.00 price target on Stoke Therapeutics in a report on Monday, December 15th. BTIG Research restated a “buy” rating and issued a $39.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, November 5th. Loop Capital set a $35.00 price objective on shares of Stoke Therapeutics in a report on Monday, January 5th. Chardan Capital boosted their target price on shares of Stoke Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Canaccord Genuity Group upped their target price on shares of Stoke Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Stoke Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $39.18.

Stoke Therapeutics Stock Performance

The company has a market cap of $1.96 billion, a PE ratio of 51.10 and a beta of 1.10. The company has a fifty day moving average of $31.54 and a two-hundred day moving average of $27.33.

Insider Buying and Selling

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 8,785 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $31.29, for a total transaction of $274,882.65. Following the completion of the transaction, the general counsel owned 15,809 shares in the company, valued at $494,663.61. The trade was a 35.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward M. Md Kaye sold 13,430 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $32.27, for a total value of $433,386.10. Following the transaction, the director owned 49,124 shares of the company’s stock, valued at $1,585,231.48. This trade represents a 21.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 58,302 shares of company stock valued at $1,826,430. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Stoke Therapeutics by 333.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,450,933 shares of the company’s stock worth $46,031,000 after buying an additional 1,116,452 shares during the period. State Street Corp grew its stake in Stoke Therapeutics by 75.2% in the 4th quarter. State Street Corp now owns 2,498,049 shares of the company’s stock worth $79,288,000 after acquiring an additional 1,072,176 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Stoke Therapeutics during the second quarter worth approximately $7,489,000. BVF Inc. IL increased its position in shares of Stoke Therapeutics by 36.7% during the fourth quarter. BVF Inc. IL now owns 2,265,674 shares of the company’s stock worth $71,912,000 after acquiring an additional 608,578 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Stoke Therapeutics by 438.2% during the third quarter. Wellington Management Group LLP now owns 737,753 shares of the company’s stock valued at $17,337,000 after acquiring an additional 600,687 shares in 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.