Stoke Therapeutics (NASDAQ:STOK) Trading Down 8.3% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price traded down 8.3% during mid-day trading on Friday . The company traded as low as $12.72 and last traded at $12.77. 244,843 shares were traded during trading, a decline of 67% from the average session volume of 751,949 shares. The stock had previously closed at $13.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Leerink Partners began coverage on Stoke Therapeutics in a research note on Monday, October 14th. They set an “outperform” rating and a $18.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Finally, Leerink Partnrs upgraded Stoke Therapeutics to a “strong-buy” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Stoke Therapeutics has a consensus rating of “Buy” and an average price target of $20.83.

Stoke Therapeutics Trading Down 11.9 %

The company’s 50-day simple moving average is $13.11 and its 200 day simple moving average is $13.78. The stock has a market cap of $649.41 million, a P/E ratio of -6.41 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results 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. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. The company had revenue of $4.89 million during the quarter, compared to analyst estimates of $3.46 million. Research analysts anticipate that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value of $27,221,875.00. Following the completion of the sale, the insider now directly owns 8,906,181 shares of the company’s stock, valued at $125,131,843.05. The trade was a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.30% of the stock is owned by company insiders.

Institutional Trading of Stoke Therapeutics

Several hedge funds have recently added to or reduced their stakes in STOK. Quest Partners LLC bought a new stake in Stoke Therapeutics in the second quarter worth $29,000. Nisa Investment Advisors LLC lifted its stake in Stoke Therapeutics by 53.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after purchasing an additional 1,038 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Stoke Therapeutics in the second quarter worth $123,000. State Board of Administration of Florida Retirement System bought a new stake in Stoke Therapeutics in the first quarter worth $141,000. Finally, Intech Investment Management LLC bought a new stake in Stoke Therapeutics in the third quarter worth $160,000.

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.