Stoke Therapeutics (NASDAQ:STOK) Announces Quarterly Earnings Results

Stoke Therapeutics (NASDAQ:STOK) issued its quarterly earnings data on Monday. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.13), FiscalAI reports. The business had revenue of $9.32 million during the quarter, compared to analyst estimates of $4.89 million. Stoke Therapeutics had a negative return on equity of 48.84% and a negative net margin of 529.20%.

Stoke Therapeutics Price Performance

STOK stock traded up $0.70 during midday trading on Monday, reaching $29.56. The company had a trading volume of 3,138,626 shares, compared to its average volume of 750,180. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -10.52 and a beta of 1.17. The stock has a 50 day moving average price of $30.38 and a 200-day moving average price of $32.01. Stoke Therapeutics has a 1-year low of $12.71 and a 1-year high of $40.22.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STOK. Weiss Ratings cut shares of Stoke Therapeutics from a “hold (c)” rating to a “sell (d)” rating in a report on Monday, May 11th. The Goldman Sachs Group started coverage on Stoke Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $44.00 price target for the company. Finally, BTIG Research reissued a “buy” rating and set a $39.00 price target on shares of Stoke Therapeutics in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Stoke Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insider Transactions at Stoke Therapeutics

In other Stoke Therapeutics news, insider Barry Ticho sold 1,795 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $30.58, for a total value of $54,891.10. Following the transaction, the insider directly owned 34,826 shares of the company’s stock, valued at $1,064,979.08. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 1,457 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $29.95, for a total transaction of $43,637.15. Following the completion of the transaction, the general counsel owned 18,086 shares of the company’s stock, valued at $541,675.70. The trade was a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in STOK. Kestra Advisory Services LLC bought a new position in shares of Stoke Therapeutics in the 4th quarter valued at $26,000. BNP Paribas Financial Markets lifted its holdings in shares of Stoke Therapeutics by 66.2% in the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock worth $48,000 after acquiring an additional 1,668 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Stoke Therapeutics by 461.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock worth $50,000 after acquiring an additional 3,591 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Stoke Therapeutics in the 4th quarter valued at approximately $145,000. Finally, LPL Financial LLC acquired a new stake in shares of Stoke Therapeutics in the 4th quarter valued at approximately $234,000.

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.