Stoke Therapeutics’ (STOK) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a report released on Tuesday morning,Benzinga reports. They currently have a $22.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a report on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, January 8th. Finally, Chardan Capital assumed coverage on shares of Stoke Therapeutics in a research note on Friday, December 20th. They set a “buy” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $23.00.

Stoke Therapeutics Stock Performance

NASDAQ STOK opened at $8.74 on Tuesday. The stock has a market capitalization of $462.93 million, a P/E ratio of -4.16 and a beta of 0.95. Stoke Therapeutics has a 1 year low of $5.20 and a 1 year high of $17.58. The business’s fifty day moving average is $10.62 and its two-hundred day moving average is $12.32.

Insider Activity

In other news, insider Barry Ticho sold 2,586 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $12.99, for a total transaction of $33,592.14. Following the transaction, the insider now directly owns 44,746 shares in the company, valued at $581,250.54. The trade was a 5.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Jonathan Allan sold 9,696 shares of the business’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 $123,914.88. Following the transaction, the general counsel now owns 35,142 shares in the company, valued at approximately $449,114.76. This represents a 21.62 % 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 ninety days. Corporate insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank bought a new stake in Stoke Therapeutics in the fourth quarter worth $35,001,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Stoke Therapeutics by 123.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,505 shares of the company’s stock worth $1,053,000 after purchasing an additional 52,813 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Stoke Therapeutics by 6.7% in the fourth quarter. Squarepoint Ops LLC now owns 120,242 shares of the company’s stock worth $1,326,000 after purchasing an additional 7,575 shares in the last quarter. Tang Capital Management LLC bought a new stake in Stoke Therapeutics in the fourth quarter worth $3,309,000. Finally, RTW Investments LP boosted its holdings in Stoke Therapeutics by 10.1% in the fourth quarter. RTW Investments LP now owns 5,123,525 shares of the company’s stock worth $56,512,000 after purchasing an additional 471,240 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.