Stoke Therapeutics (NASDAQ:STOK) Shares Gap Down – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares gapped down before the market opened on Tuesday . The stock had previously closed at $11.02, but opened at $9.82. Stoke Therapeutics shares last traded at $9.69, with a volume of 448,132 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on STOK shares. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Chardan Capital assumed coverage on Stoke Therapeutics in a report on Friday, December 20th. They set a “buy” rating and a $24.00 price objective on the stock. Leerink Partnrs upgraded Stoke Therapeutics to a “strong-buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $21.29.

Stoke Therapeutics Stock Down 16.1 %

The stock has a fifty day simple moving average of $12.18 and a 200-day simple moving average of $13.17. The company has a market capitalization of $489.94 million, a P/E ratio of -4.40 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last announced 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 for the quarter, compared to the consensus estimate of $3.46 million. Analysts predict that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Barry Ticho sold 10,000 shares of Stoke Therapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $12.07, for a total value of $120,700.00. Following the completion of the sale, the insider now directly owns 51,277 shares in the company, valued at $618,913.39. This trade represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward M. Md Kaye sold 6,170 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $12.78, for a total value of $78,852.60. Following the sale, the chief executive officer now directly owns 68,671 shares of the company’s stock, valued at $877,615.38. This represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,849 shares of company stock worth $809,421 in the last 90 days. Corporate insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors have recently modified their holdings of the stock. Quest Partners LLC bought a new position in Stoke Therapeutics during the second quarter worth about $29,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Stoke Therapeutics during the 2nd quarter valued at $123,000. Intech Investment Management LLC bought a new stake in shares of Stoke Therapeutics during the third quarter worth approximately $160,000. The Manufacturers Life Insurance Company increased its position in Stoke Therapeutics by 16.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock worth $189,000 after acquiring an additional 1,994 shares during the period. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Stoke Therapeutics in the third quarter valued at approximately $192,000.

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.