Stoke Therapeutics (NASDAQ:STOK) Trading Down 8.3% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price traded down 8.3% on Friday . The company traded as low as $12.72 and last traded at $12.77. 244,843 shares were traded during mid-day trading, a decline of 67% from the average session volume of 751,949 shares. The stock had previously closed at $13.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on STOK shares. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Leerink Partners started coverage on Stoke Therapeutics in a research note on Monday, October 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Finally, Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.83.

Stoke Therapeutics Stock Performance

The firm has a market cap of $649.41 million, a P/E ratio of -6.41 and a beta of 0.95. The company has a 50-day moving average of $13.11 and a 200 day moving average of $13.78.

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

Insider Buying and Selling at Stoke Therapeutics

In other news, major shareholder Skorpios Trust sold 1,937,500 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 8,906,181 shares in the company, valued at $125,131,843.05. The trade was a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. RTW Investments LP raised its position in shares of Stoke Therapeutics by 10.1% during the third quarter. RTW Investments LP now owns 4,652,285 shares of the company’s stock worth $57,177,000 after acquiring an additional 427,447 shares during the last quarter. Checkpoint Capital L.P. bought a new stake in Stoke Therapeutics in the third quarter valued at approximately $1,936,000. BNP Paribas Financial Markets raised its stake in Stoke Therapeutics by 1,589.7% in the third quarter. BNP Paribas Financial Markets now owns 76,154 shares of the company’s stock valued at $936,000 after buying an additional 71,647 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Stoke Therapeutics by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 316,134 shares of the company’s stock valued at $3,885,000 after buying an additional 26,870 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Stoke Therapeutics in the third quarter valued at approximately $160,000.

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.