Chardan Capital Initiates Coverage on Stoke Therapeutics (NASDAQ:STOK)

Chardan Capital began coverage on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report sent to investors on Friday, Marketbeat reports. The firm issued a buy rating and a $24.00 price objective on the stock.

Several other brokerages also recently issued reports on STOK. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Leerink Partners assumed coverage on Stoke Therapeutics in a research note on Monday, October 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. Finally, Leerink Partnrs upgraded shares of Stoke Therapeutics to a “strong-buy” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $21.29.

Stoke Therapeutics Stock Up 3.4 %

Shares of Stoke Therapeutics stock opened at $11.68 on Friday. The stock has a market cap of $618.65 million, a P/E ratio of -5.56 and a beta of 0.95. Stoke Therapeutics has a 12-month low of $4.09 and a 12-month high of $17.58. The business’s 50 day moving average is $12.48 and its 200-day moving average is $13.54.

Stoke Therapeutics (NASDAQ:STOK) last issued its earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The business had revenue of $4.89 million for the quarter, compared to the consensus estimate of $3.46 million. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. On average, sell-side analysts expect that Stoke Therapeutics will post -2.03 EPS for the current year.

Insider Buying and Selling at Stoke Therapeutics

In related news, CEO Edward M. Md Kaye sold 6,170 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $12.78, for a total value of $78,852.60. Following the completion of the transaction, the chief executive officer now owns 68,671 shares of the company’s stock, valued at $877,615.38. The trade was a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Jonathan Allan sold 9,696 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $12.78, for a total transaction of $123,914.88. Following the sale, the general counsel now owns 35,142 shares in the company, valued at $449,114.76. The trade was a 21.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,849 shares of company stock valued at $809,421 in the last three months. Corporate insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in STOK. BNP Paribas Financial Markets boosted its holdings in shares of Stoke Therapeutics by 1,589.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 76,154 shares of the company’s stock valued at $936,000 after purchasing an additional 71,647 shares in the last quarter. RTW Investments LP boosted its stake in Stoke Therapeutics by 10.1% in the third quarter. RTW Investments LP now owns 4,652,285 shares of the company’s stock valued at $57,177,000 after buying an additional 427,447 shares in the last quarter. Jane Street Group LLC grew its position in Stoke Therapeutics by 338.2% in the third quarter. Jane Street Group LLC now owns 330,442 shares of the company’s stock valued at $4,061,000 after acquiring an additional 255,028 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Stoke Therapeutics by 54.3% during the third quarter. Los Angeles Capital Management LLC now owns 103,005 shares of the company’s stock worth $1,266,000 after acquiring an additional 36,240 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Stoke Therapeutics by 426.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,387,200 shares of the company’s stock worth $18,741,000 after acquiring an additional 1,123,500 shares during the last quarter.

Stoke Therapeutics Company 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.