Stoke Therapeutics (NASDAQ:STOK) Stock Jumps 8.9% – Should You Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK) shot up 8.9% during trading on Tuesday. The company traded as high as $27.11 and last traded at $27.0250. 279,721 shares were traded during trading, a decline of 64% from the average daily volume of 783,479 shares. The stock had previously closed at $24.82.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Stoke Therapeutics in a research report on Thursday, September 10th. JPMorgan Chase & Co. initiated coverage on shares of Stoke Therapeutics in a report on Friday, August 21st. They set an “overweight” rating and a $40.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Canaccord Genuity Group dropped their target price on shares of Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Stoke Therapeutics in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Stoke Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Stoke Therapeutics Stock Performance

The business has a 50-day moving average price of $28.22 and a 200 day moving average price of $30.40.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.13). Stoke Therapeutics had a negative return on equity of 59.36% and a negative net margin of 753.60%. The firm had revenue of $9.32 million for the quarter, compared to the consensus estimate of $4.89 million. As a group, sell-side analysts forecast that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Stoke Therapeutics

In other news, General Counsel Jonathan Allan sold 2,861 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total value of $91,637.83. Following the sale, the general counsel owned 21,225 shares of the company’s stock, valued at $679,836.75. The trade was a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 that occurred 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 sale, the insider owned 19,059 shares in the company, valued at $498,583.44. The trade was a 5.23% 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. Insiders have sold a total of 34,594 shares of company stock valued at $1,069,305 over the last three months. 9.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Stoke Therapeutics in the 2nd quarter valued at approximately $192,307,000. Redmile Group LLC lifted its position in shares of Stoke Therapeutics by 3.2% during the first quarter. Redmile Group LLC now owns 4,164,120 shares of the company’s stock worth $135,584,000 after acquiring an additional 130,050 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Stoke Therapeutics by 13.7% in the second quarter. Wellington Management Group LLP now owns 3,519,301 shares of the company’s stock worth $115,152,000 after acquiring an additional 423,601 shares during the period. Jupiter Topco LLC bought a new position in shares of Stoke Therapeutics in the second quarter worth $59,358,000. Finally, Janus Henderson Group PLC grew its position in shares of Stoke Therapeutics by 11.2% in the first quarter. Janus Henderson Group PLC now owns 1,612,781 shares of the company’s stock valued at $52,456,000 after purchasing an additional 161,848 shares in the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for severe diseases caused by insufficient protein production. The company uses its proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) platform to design antisense oligonucleotides that can increase the expression of specific genes and potentially address the underlying causes of genetic disorders.

Stoke’s leading product candidate is STK-001, an investigational antisense oligonucleotide being developed for the treatment of Dravet syndrome, a severe genetic epilepsy most commonly associated with mutations in the SCN1A gene.