Leerink Partners Begins Coverage on Stoke Therapeutics (NASDAQ:STOK)

Equities research analysts at Leerink Partners assumed coverage on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report issued on Monday, StockNewsAPI reports. The brokerage set an “outperform” rating and a $18.00 price target on the stock. Leerink Partners’ price objective suggests a potential upside of 52.03% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research note on Thursday, August 8th. Wedbush reiterated an “outperform” rating and set a $17.00 price target on shares of Stoke Therapeutics in a research report on Thursday, July 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.83.

Stoke Therapeutics Stock Performance

Shares of Stoke Therapeutics stock opened at $11.84 on Monday. The firm has a 50-day moving average of $13.79 and a 200-day moving average of $13.72. Stoke Therapeutics has a 52-week low of $3.35 and a 52-week high of $17.58. The stock has a market cap of $617.11 million, a PE ratio of -4.91 and a beta of 0.97.

Stoke Therapeutics (NASDAQ:STOK) last announced 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. The company had revenue of $4.83 million for the quarter, compared to analysts’ expectations of $3.33 million. Stoke Therapeutics had a negative net margin of 683.35% and a negative return on equity of 57.89%. Equities research analysts predict that Stoke Therapeutics will post -2.1 earnings per share for the current fiscal year.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 1,937,500 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.30% of the stock is owned by insiders.

Institutional Trading of Stoke Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Quest Partners LLC bought a new position in Stoke Therapeutics in the 2nd quarter valued at approximately $29,000. Nisa Investment Advisors LLC raised its stake in shares of 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Stoke Therapeutics during the second quarter worth $123,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Stoke Therapeutics during the first quarter worth $141,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Stoke Therapeutics by 16.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock worth $189,000 after purchasing an additional 1,994 shares during 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.