Stoke Therapeutics (NASDAQ:STOK) Trading Down 2.9% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price traded down 2.9% during trading on Tuesday . The company traded as low as $11.10 and last traded at $11.27. 121,581 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 749,464 shares. The stock had previously closed at $11.61.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Chardan Capital initiated coverage on shares of Stoke Therapeutics in a research note on Friday. They issued a “buy” rating and a $24.00 target price for the company. Leerink Partners initiated coverage on shares of Stoke Therapeutics in a research report on Monday, October 14th. They set an “outperform” rating and a $18.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Stoke Therapeutics in a report on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Stoke Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $21.29.

Stoke Therapeutics Stock Down 2.5 %

The stock’s fifty day moving average is $12.46 and its two-hundred day moving average is $13.49. The firm has a market capitalization of $599.59 million, a price-to-earnings ratio of -5.39 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. The business had revenue of $4.89 million during the quarter, compared to the consensus estimate of $3.46 million. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. As a group, analysts anticipate that Stoke Therapeutics, Inc. will post -2.03 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Jonathan Allan sold 9,696 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $12.78, for a total value of $123,914.88. Following the completion of the transaction, the general counsel now owns 35,142 shares of the company’s stock, valued at $449,114.76. This represents a 21.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Barry Ticho sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $12.07, for a total value of $120,700.00. Following the sale, the insider now owns 51,277 shares in the company, valued at approximately $618,913.39. This trade represents a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,849 shares of company stock worth $809,421 in the last quarter. Corporate insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Stoke Therapeutics by 53.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after buying an additional 1,038 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Stoke Therapeutics by 16.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after purchasing an additional 1,994 shares in the last quarter. Quest Partners LLC bought a new stake in Stoke Therapeutics in the second quarter worth approximately $29,000. Los Angeles Capital Management LLC lifted its stake in Stoke Therapeutics by 7.2% in the second quarter. Los Angeles Capital Management LLC now owns 66,765 shares of the company’s stock valued at $902,000 after buying an additional 4,508 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Stoke Therapeutics by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 47,860 shares of the company’s stock worth $647,000 after buying an additional 5,990 shares in the last quarter.

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.