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

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.84, but opened at $12.16. Stoke Therapeutics shares last traded at $12.82, with a volume of 70,848 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STOK. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, September 11th. Leerink Partnrs raised shares of Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a report on Thursday, August 8th. Wedbush restated an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. Finally, Leerink Partners began coverage on shares of Stoke Therapeutics in a research report on Monday. They issued an “outperform” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $20.83.

Stoke Therapeutics Stock Performance

The stock has a market cap of $661.42 million, a price-to-earnings ratio of -5.27 and a beta of 0.97. The business’s 50 day moving average is $13.75 and its 200 day moving average is $13.71.

Stoke Therapeutics (NASDAQ:STOK) last issued its earnings results on Wednesday, August 7th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.11. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. The business had revenue of $4.83 million during the quarter, compared to analysts’ expectations of $3.33 million. Research analysts expect that Stoke Therapeutics, Inc. will post -2.1 earnings per share for the current year.

Insider Activity at Stoke Therapeutics

In related news, major shareholder Skorpios Trust sold 1,937,500 shares of Stoke Therapeutics stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total value of $27,221,875.00. Following the completion of the sale, the insider now owns 8,906,181 shares of the company’s stock, valued at approximately $125,131,843.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Redmile Group LLC increased its holdings in shares of Stoke Therapeutics by 93.2% during the 1st quarter. Redmile Group LLC now owns 5,073,049 shares of the company’s stock valued at $68,486,000 after acquiring an additional 2,447,543 shares during the last quarter. Lynx1 Capital Management LP grew its holdings in Stoke Therapeutics by 40.3% during 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 last quarter. Assenagon Asset Management S.A. bought a new position in shares of Stoke Therapeutics in the second quarter valued at approximately $19,835,000. Baker BROS. Advisors LP boosted its holdings in shares of Stoke Therapeutics by 65.9% during the 1st quarter. Baker BROS. Advisors LP now owns 3,368,443 shares of the company’s stock worth $45,474,000 after buying an additional 1,338,309 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in 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 acquiring an additional 1,123,500 shares during the period.

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.