Stoke Therapeutics (NASDAQ:STOK) Shares Down 7.1% – Here’s Why

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) traded down 7.1% on Tuesday. The company traded as low as $22.41 and last traded at $22.4290. Approximately 210,817 shares were traded during mid-day trading, a decline of 73% from the average session volume of 782,184 shares. The stock had previously closed at $24.15.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. Weiss Ratings restated a “sell (d)” rating on shares of Stoke Therapeutics in a report on Friday, August 7th. JPMorgan Chase & Co. started coverage on Stoke Therapeutics in a research report on Friday, August 21st. They set an “overweight” rating and a $40.00 price target for the company. Finally, Wedbush increased their price target on Stoke Therapeutics from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Stoke Therapeutics Stock Down 7.4%

The firm has a 50 day simple moving average of $29.32 and a 200-day simple moving average of $30.80. The stock has a market cap of $1.44 billion, a P/E ratio of -6.73 and a beta of 1.26.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.13). Stoke Therapeutics had a negative net margin of 753.60% and a negative return on equity of 59.36%. The business had revenue of $9.32 million during the quarter, compared to analyst estimates of $4.89 million. On average, equities analysts anticipate that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, Director Edward M. Md Kaye sold 12,567 shares of Stoke Therapeutics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total transaction of $402,521.01. Following the completion of the transaction, the director directly owned 124,557 shares of the company’s stock, valued at $3,989,560.71. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Barry Ticho sold 1,051 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $26.16, for a total transaction of $27,494.16. Following the completion of the transaction, the insider owned 19,059 shares in the company, valued at approximately $498,583.44. This represents a 5.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 34,594 shares of company stock worth $1,069,305. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Stoke Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in shares of Stoke Therapeutics by 16.1% during the 2nd quarter. Tidal Investments LLC now owns 9,917 shares of the company’s stock worth $324,000 after buying an additional 1,377 shares during the period. Squarepoint Ops LLC bought a new position in Stoke Therapeutics in the 2nd quarter valued at about $959,000. Corient Private Wealth LP bought a new position in Stoke Therapeutics in the 2nd quarter valued at about $1,009,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Stoke Therapeutics during the second quarter worth approximately $443,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Stoke Therapeutics during the second quarter worth approximately $255,000.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc is a biotechnology company developing genetic medicines for severe diseases caused by inadequate protein expression. The company’s approach, known as TANGO (Targeted Augmentation of Nuclear Gene Output), uses antisense oligonucleotides to selectively modulate pre-messenger RNA splicing and increase production of functional proteins from disease-associated genes.

Stoke’s lead program is zorevunersen (STK-001), an investigational antisense oligonucleotide designed to increase functional NaV1.1 protein expression in people with Dravet syndrome, a severe genetic epilepsy caused primarily by mutations in the SCN1A gene.