Stoke Therapeutics (NASDAQ:STOK) Stock Price Up 6.9% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK) traded up 6.9% on Wednesday . The company traded as high as $10.00 and last traded at $10.50. 13,795 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 822,257 shares. The stock had previously closed at $9.82.

Analyst Upgrades and Downgrades

STOK has been the topic of a number of analyst reports. Chardan Capital began coverage on Stoke Therapeutics in a research note on Friday, December 20th. They set a “buy” rating and a $24.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, January 8th. Leerink Partnrs upgraded Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, January 8th. Finally, Leerink Partners started coverage on Stoke Therapeutics in a research note on Monday, October 14th. They issued an “outperform” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Stoke Therapeutics currently has a consensus rating of “Buy” and an average price target of $21.29.

Stoke Therapeutics Trading Up 4.6 %

The stock’s 50-day moving average is $11.08 and its 200-day moving average is $12.72.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.05. The company had revenue of $4.89 million during the quarter, compared to analyst estimates of $3.46 million. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. Analysts expect that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current year.

Insider Buying and Selling at Stoke Therapeutics

In related news, insider Barry Ticho sold 13,945 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $12.78, for a total transaction of $178,217.10. Following the completion of the sale, the insider now directly owns 47,332 shares of the company’s stock, valued at approximately $604,902.96. This trade represents a 22.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward M. Md Kaye sold 6,170 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $12.78, for a total transaction of $78,852.60. Following the completion of the transaction, the chief executive officer now directly owns 68,671 shares of the company’s stock, valued at approximately $877,615.38. The trade was a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,849 shares of company stock valued at $809,421 over the last three months. 11.30% of the stock is owned by company insiders.

Institutional Trading of Stoke Therapeutics

A number of hedge funds have recently made changes to their positions in STOK. Barclays PLC raised its stake in Stoke Therapeutics by 145.3% during the third quarter. Barclays PLC now owns 79,740 shares of the company’s stock worth $980,000 after acquiring an additional 47,239 shares during the period. Geode Capital Management LLC raised its position in shares of Stoke Therapeutics by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 870,831 shares of the company’s stock worth $10,705,000 after purchasing an additional 76,661 shares during the period. State Street Corp lifted its holdings in shares of Stoke Therapeutics by 8.6% in the 3rd quarter. State Street Corp now owns 1,728,888 shares of the company’s stock worth $21,248,000 after purchasing an additional 137,145 shares during the last quarter. RTW Investments LP boosted its position in Stoke Therapeutics by 10.1% during the 3rd quarter. RTW Investments LP now owns 4,652,285 shares of the company’s stock valued at $57,177,000 after purchasing an additional 427,447 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Stoke Therapeutics by 1,589.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 76,154 shares of the company’s stock worth $936,000 after buying an additional 71,647 shares during 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.