Stoke Therapeutics (NASDAQ:STOK) Sets New 1-Year High – What’s Next?

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares reached a new 52-week high on Monday . The company traded as high as $38.95 and last traded at $38.71, with a volume of 256364 shares trading hands. The stock had previously closed at $36.41.

Analysts Set New Price Targets

Several research analysts have weighed in on STOK shares. Wolfe Research began coverage on Stoke Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $40.00 price target for the company. Canaccord Genuity Group lifted their price target on shares of Stoke Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a report on Monday, January 5th. Chardan Capital raised their price objective on Stoke Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Wedbush boosted their target price on Stoke Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Finally, Guggenheim initiated coverage on Stoke Therapeutics in a report on Thursday, February 5th. They set a “buy” rating and a $60.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Stoke Therapeutics Price Performance

The company has a 50-day moving average of $31.92 and a 200 day moving average of $28.50. The company has a market cap of $2.10 billion, a PE ratio of 54.89 and a beta of 1.10.

Insider Transactions at Stoke Therapeutics

In other 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 transaction, the general counsel owned 15,809 shares of the company’s stock, valued at approximately $494,663.61. The trade was a 35.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Barry Ticho sold 3,662 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $31.34, for a total value of $114,767.08. Following the completion of the sale, the insider owned 19,798 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 58,302 shares of company stock worth $1,826,430. 9.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Several hedge funds have recently added to or reduced their stakes in STOK. Marshall Wace LLP grew its holdings in shares of Stoke Therapeutics by 7.9% in the second quarter. Marshall Wace LLP now owns 2,300,554 shares of the company’s stock worth $26,111,000 after purchasing an additional 168,771 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Stoke Therapeutics in the 3rd quarter valued at about $3,539,000. Principal Financial Group Inc. bought a new position in Stoke Therapeutics in the 3rd quarter worth about $1,062,000. Aviva PLC purchased a new position in shares of Stoke Therapeutics during the second quarter worth approximately $499,000. Finally, Franklin Resources Inc. increased its position in shares of Stoke Therapeutics by 264.8% during the second quarter. Franklin Resources Inc. now owns 81,395 shares of the company’s stock worth $924,000 after acquiring an additional 59,081 shares during the period.

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.