Stoke Therapeutics (NASDAQ:STOK) Shares Down 5.7%

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) dropped 5.7% during mid-day trading on Monday . The stock traded as low as $14.86 and last traded at $14.95. Approximately 55,230 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 882,622 shares. The stock had previously closed at $15.86.

Analysts Set New Price Targets

STOK has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. Canaccord Genuity Group dropped their target price on shares of Stoke Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a report on Tuesday, May 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Stoke Therapeutics in a report on Thursday, April 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.57.

Stoke Therapeutics Price Performance

The firm has a market capitalization of $771.39 million, a P/E ratio of -6.04 and a beta of 0.87. The company’s 50-day simple moving average is $14.54 and its two-hundred day simple moving average is $10.66.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.03. The business had revenue of $4.22 million during the quarter, compared to the consensus estimate of $3.33 million. Analysts predict that Stoke Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Insider Activity

In other news, insider Barry Ticho sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.75, for a total transaction of $137,500.00. Following the sale, the insider now directly owns 2,485 shares in the company, valued at approximately $34,168.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.30% of the company’s stock.

Institutional Trading of Stoke Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Stoke Therapeutics during the second quarter valued at $123,000. Bank of New York Mellon Corp grew its stake in Stoke Therapeutics by 28.9% during the second quarter. Bank of New York Mellon Corp now owns 115,892 shares of the company’s stock valued at $1,566,000 after acquiring an additional 25,988 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Stoke Therapeutics by 53.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock valued at $40,000 after acquiring an additional 1,038 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Stoke Therapeutics during the second quarter valued at $19,835,000. Finally, SG Americas Securities LLC grew its stake in Stoke Therapeutics by 610.3% during the second quarter. SG Americas Securities LLC now owns 68,601 shares of the company’s stock valued at $927,000 after acquiring an additional 58,943 shares in the last quarter.

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.