Stoke Therapeutics, Inc. (NASDAQ:STOK) is Skorpios Trust’s Largest Position

Skorpios Trust lowered its holdings in Stoke Therapeutics, Inc. (NASDAQ:STOK) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,906,181 shares of the company’s stock after selling 1,937,500 shares during the quarter. Stoke Therapeutics accounts for about 99.8% of Skorpios Trust’s investment portfolio, making the stock its biggest holding. Skorpios Trust owned 16.92% of Stoke Therapeutics worth $109,457,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Quest Partners LLC purchased a new position in Stoke Therapeutics in the second quarter worth about $29,000. Nisa Investment Advisors LLC boosted its position in Stoke Therapeutics by 53.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after purchasing an additional 1,038 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Stoke Therapeutics during the 2nd quarter valued at about $123,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Stoke Therapeutics during the 1st quarter valued at about $141,000. Finally, The Manufacturers Life Insurance Company lifted 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 buying an additional 1,994 shares in the last quarter.

Insider Activity

In other news, major shareholder Skorpios Trust sold 1,937,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the transaction, the insider now owns 8,906,181 shares of the company’s stock, valued at approximately $125,131,843.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.30% of the company’s stock.

Stoke Therapeutics Price Performance

NASDAQ:STOK opened at $11.91 on Friday. Stoke Therapeutics, Inc. has a 1 year low of $3.35 and a 1 year high of $17.58. The stock’s 50 day simple moving average is $13.48 and its two-hundred day simple moving average is $13.68. The company has a market cap of $620.76 million, a price-to-earnings ratio of -4.94 and a beta of 0.97.

Stoke Therapeutics (NASDAQ:STOK) last released its earnings results on Wednesday, August 7th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.11. The firm had revenue of $4.83 million for the quarter, compared to the consensus estimate of $3.33 million. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. As a group, analysts anticipate that Stoke Therapeutics, Inc. will post -2.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a research report on Friday, October 11th. Leerink Partners began coverage on Stoke Therapeutics in a research report on Monday, October 14th. They set an “outperform” rating and a $18.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a research note on Thursday, July 11th. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, September 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Stoke Therapeutics in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $20.83.

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.