Stoke Therapeutics (NASDAQ:STOK) Shares Gap Up – Time to Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK) gapped up prior to trading on Wednesday . The stock had previously closed at $11.43, but opened at $11.89. Stoke Therapeutics shares last traded at $13.18, with a volume of 172,442 shares trading hands.

Analyst Ratings Changes

A number of research analysts have commented on STOK shares. Leerink Partners started coverage on Stoke Therapeutics in a research note on Monday, October 14th. They issued an “outperform” rating and a $18.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Finally, Leerink Partnrs upgraded Stoke Therapeutics to a “strong-buy” rating in a research note on Friday, October 11th. One 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 company’s stock. According to MarketBeat, Stoke Therapeutics presently has a consensus rating of “Buy” and an average price target of $20.83.

Stoke Therapeutics Stock Performance

The firm has a 50 day moving average of $12.39 and a two-hundred day moving average of $13.74. The stock has a market cap of $665.83 million, a P/E ratio of -5.99 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share for the quarter, beating 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 firm had revenue of $4.89 million during the quarter, compared to the consensus estimate of $3.46 million. On average, sell-side analysts anticipate that Stoke Therapeutics, Inc. will post -2.03 EPS for the current fiscal year.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 1,937,500 shares of the company’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 value of $27,221,875.00. Following the completion of the transaction, the insider now owns 8,906,181 shares of the company’s stock, valued at $125,131,843.05. This represents a 17.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Barry Ticho sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $12.07, for a total value of $120,700.00. Following the completion of the transaction, the insider now directly owns 51,277 shares of the company’s stock, valued at approximately $618,913.39. This trade represents a 16.32 % decrease in their position. The disclosure for this sale can be found here. 11.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Several large investors have recently added to or reduced their stakes in STOK. Lynx1 Capital Management LP raised its holdings in Stoke Therapeutics by 40.3% in the 2nd quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock valued at $70,052,000 after acquiring an additional 1,488,371 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Stoke Therapeutics in the 2nd quarter worth approximately $19,835,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Stoke Therapeutics by 426.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,387,200 shares of the company’s stock worth $18,741,000 after buying an additional 1,123,500 shares in the last quarter. Logos Global Management LP acquired a new position in shares of Stoke Therapeutics in the 2nd quarter worth approximately $14,186,000. Finally, Marshall Wace LLP raised its holdings in shares of Stoke Therapeutics by 550.1% in the 2nd quarter. Marshall Wace LLP now owns 1,161,037 shares of the company’s stock worth $15,686,000 after buying an additional 982,451 shares in 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.