Ikarian Capital LLC Reduces Position in Stoke Therapeutics, Inc. (NASDAQ:STOK)

Ikarian Capital LLC cut its position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) by 43.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,816 shares of the company’s stock after selling 5,300 shares during the period. Ikarian Capital LLC’s holdings in Stoke Therapeutics were worth $92,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System purchased a new position in shares of Stoke Therapeutics during the 1st quarter worth about $141,000. BNP Paribas Financial Markets boosted its stake in shares of Stoke Therapeutics by 86.2% during the 1st quarter. BNP Paribas Financial Markets now owns 14,330 shares of the company’s stock worth $193,000 after purchasing an additional 6,636 shares during the period. Chase Investment Counsel Corp purchased a new position in shares of Stoke Therapeutics during the 1st quarter worth about $279,000. Seven Grand Managers LLC purchased a new position in shares of Stoke Therapeutics during the 1st quarter worth about $405,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Stoke Therapeutics by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,431 shares of the company’s stock worth $425,000 after purchasing an additional 1,642 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Tuesday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Stoke Therapeutics in a research report on Friday, June 28th. Wedbush reissued an “outperform” rating and issued a $17.00 price objective on shares of Stoke Therapeutics in a research report on Thursday, July 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Stoke Therapeutics in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group lowered their price objective on shares of Stoke Therapeutics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Stoke Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.57.

Insider Buying and Selling

In related news, insider Barry Ticho sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.75, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now owns 2,485 shares in the company, valued at approximately $34,168.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.30% of the stock is currently owned by company insiders.

Stoke Therapeutics Price Performance

Shares of NASDAQ:STOK traded down $0.25 during trading hours on Thursday, hitting $14.72. The company’s stock had a trading volume of 377,957 shares, compared to its average volume of 874,624. Stoke Therapeutics, Inc. has a 52 week low of $3.35 and a 52 week high of $17.58. The company has a market capitalization of $767.21 million, a price-to-earnings ratio of -6.11 and a beta of 0.87. The firm’s fifty day moving average price is $14.48 and its 200 day moving average price is $10.85.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.03. The firm had revenue of $4.22 million for the quarter, compared to the consensus estimate of $3.33 million. On average, equities research analysts predict that Stoke Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Stoke Therapeutics Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.