Stoke Therapeutics (NASDAQ:STOK) Shares Down 7.3%

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares traded down 7.3% during mid-day trading on Wednesday . The stock traded as low as $14.67 and last traded at $14.76. 57,874 shares were traded during mid-day trading, a decline of 93% from the average session volume of 796,464 shares. The stock had previously closed at $15.92.

Analyst Ratings Changes

STOK has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Stoke Therapeutics in a report on Thursday, August 8th. Finally, Wedbush reiterated an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a research note on Thursday, July 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.40.

Stoke Therapeutics Stock Performance

The stock’s 50-day moving average is $14.29 and its 200 day moving average is $12.81. The stock has a market capitalization of $765.53 million, a PE ratio of -6.10 and a beta of 0.96.

Stoke Therapeutics (NASDAQ:STOK) last posted its earnings results on Wednesday, August 7th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.11. The business had revenue of $4.83 million for the quarter, compared to analysts’ expectations of $3.33 million. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. Analysts expect that Stoke Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Insider Activity

In other news, insider Barry Ticho sold 10,000 shares of Stoke Therapeutics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.75, for a total value of $137,500.00. Following the transaction, the insider now directly owns 2,485 shares of the company’s stock, valued at approximately $34,168.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.30% of the company’s stock.

Institutional Trading of Stoke Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lynx1 Capital Management LP increased its holdings in shares of Stoke Therapeutics by 40.3% in the second quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock valued at $70,052,000 after purchasing an additional 1,488,371 shares during the period. The Manufacturers Life Insurance Company grew its position in Stoke Therapeutics by 16.7% in 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 during the last quarter. Millennium Management LLC increased its stake in Stoke Therapeutics by 528.6% in the 2nd quarter. Millennium Management LLC now owns 289,067 shares of the company’s stock valued at $3,905,000 after buying an additional 243,083 shares during the period. Marshall Wace LLP raised its position in Stoke Therapeutics by 550.1% during 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 during the last quarter. Finally, Logos Global Management LP purchased a new position in Stoke Therapeutics during the 2nd quarter worth $14,186,000.

About Stoke Therapeutics

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.