Stoke Therapeutics (NASDAQ:STOK) Shares Down 9.7% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price fell 9.7% during trading on Friday . The company traded as low as $11.65 and last traded at $11.51. 377,743 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 857,345 shares. The stock had previously closed at $12.74.

Wall Street Analyst Weigh In

Several analysts have issued reports on STOK shares. Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a research 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 research note on Wednesday, January 8th. Chardan Capital started coverage on shares of Stoke Therapeutics in a research report on Friday, December 20th. They set a “buy” rating and a $24.00 price target for the company. 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 shares of Stoke Therapeutics in a research note on Monday, October 14th. They set an “outperform” rating and a $18.00 price objective for the company. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.29.

Stoke Therapeutics Price Performance

The firm has a market cap of $601.18 million, a price-to-earnings ratio of -5.40 and a beta of 0.95. The business has a fifty day simple moving average of $11.11 and a 200 day simple moving average of $12.64.

Stoke Therapeutics (NASDAQ:STOK) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.47) earnings per share 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 return on equity of 54.45% and a negative net margin of 629.90%. On average, research analysts anticipate that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Activity at Stoke Therapeutics

In related news, insider Barry Ticho sold 10,000 shares of Stoke Therapeutics stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $12.07, for a total transaction of $120,700.00. Following the completion of the transaction, the insider now directly owns 51,277 shares in the company, valued at $618,913.39. The trade was a 16.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jonathan Allan sold 9,696 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $12.78, for a total value of $123,914.88. Following the completion of the sale, the general counsel now owns 35,142 shares in the company, valued at $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 sold a total of 62,849 shares of company stock valued at $809,421 in the last three months. 11.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds have recently made changes to their positions in STOK. China Universal Asset Management Co. Ltd. purchased a new position in Stoke Therapeutics in the fourth quarter valued at approximately $124,000. Intech Investment Management LLC acquired a new position in shares of Stoke Therapeutics during the 3rd quarter valued at $160,000. The Manufacturers Life Insurance Company boosted its position in Stoke Therapeutics by 16.7% during the 2nd 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 period. Mesirow Financial Investment Management Inc. acquired a new stake in Stoke Therapeutics in the 3rd quarter valued at $192,000. Finally, Rhumbline Advisers lifted its stake in shares of Stoke Therapeutics by 6.0% during the fourth quarter. Rhumbline Advisers now owns 49,374 shares of the company’s stock worth $545,000 after purchasing an additional 2,787 shares in 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.