Stoke Therapeutics, Inc. (NASDAQ:STOK) Short Interest Down 19.9% in September

Stoke Therapeutics, Inc. (NASDAQ:STOK) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 6,980,000 shares, a decrease of 19.9% from the September 15th total of 8,710,000 shares. Based on an average daily trading volume, of 551,400 shares, the days-to-cover ratio is presently 12.7 days.

Insider Buying and Selling

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 1,937,500 shares of Stoke Therapeutics stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the sale, the insider now owns 8,906,181 shares of the company’s stock, valued at $125,131,843.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Stoke Therapeutics by 426.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,387,200 shares of the company’s stock worth $18,741,000 after purchasing an additional 1,123,500 shares during the period. Lynx1 Capital Management LP boosted its position in shares of Stoke Therapeutics by 40.3% in the second quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock worth $70,052,000 after buying an additional 1,488,371 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Stoke Therapeutics by 16.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock worth $189,000 after buying an additional 1,994 shares during the period. Millennium Management LLC grew its holdings in shares of Stoke Therapeutics by 528.6% during the second quarter. Millennium Management LLC now owns 289,067 shares of the company’s stock valued at $3,905,000 after buying an additional 243,083 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Stoke Therapeutics by 550.1% during the second quarter. Marshall Wace LLP now owns 1,161,037 shares of the company’s stock valued at $15,686,000 after buying an additional 982,451 shares during the period.

Stoke Therapeutics Stock Performance

Shares of NASDAQ:STOK opened at $11.84 on Monday. The stock has a market capitalization of $617.11 million, a price-to-earnings ratio of -4.91 and a beta of 0.97. Stoke Therapeutics has a 1-year low of $3.35 and a 1-year high of $17.58. The company has a 50 day moving average price of $13.79 and a 200 day moving average price of $13.72.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.11. The business had revenue of $4.83 million during the quarter, compared to analyst estimates of $3.33 million. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. On average, sell-side analysts expect that Stoke Therapeutics will post -2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STOK shares. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, September 11th. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research report on Thursday, August 8th. Finally, Wedbush reiterated an “outperform” rating and set a $17.00 price target on shares of Stoke Therapeutics in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Stoke Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $21.40.

About Stoke Therapeutics

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.