Stoke Therapeutics, Inc. (NASDAQ:STOK) Stock Has Average Target Price of $44.25

Key Points

• Analysts remain broadly bullish: Stoke Therapeutics has a “Moderate Buy” consensus from 11 analysts, with 10 buys and one sell, and an average 12-month price target of $44.25.
• Shares are trading below analyst targets: STOK opened at $24.17, versus a 52-week high of $40.22, while its latest quarterly loss of $0.93 per share missed expectations of $0.80 despite revenue of $9.32 million exceeding forecasts.
• Institutional ownership increased, while insiders sold shares: BlackRock initiated a roughly $192.3 million position, and several other funds raised their holdings; insiders sold $1.07 million of stock over the past 90 days, primarily to cover tax obligations from vested equity awards.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $44.25.

A number of research firms recently weighed in on STOK. JPMorgan Chase & Co. started coverage on Stoke Therapeutics in a report on Friday, August 21st. They issued an "overweight" rating and a $40.00 price target on the stock. Canaccord Genuity Group dropped their price objective on Stoke Therapeutics from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Chardan Capital reaffirmed a "buy" rating and set a $35.00 price objective on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Weiss Ratings reiterated a "sell (d)" rating on shares of Stoke Therapeutics in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Stoke Therapeutics in a research report on Thursday, September 10th.

Insider Activity

In other news, Director Edward Kaye sold 12,567 shares of Stoke Therapeutics stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total transaction of $402,521.01. Following the completion of the transaction, the director owned 124,557 shares of the company's stock, valued at $3,989,560.71. The trade was a 9.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jonathan Allan sold 2,861 shares of Stoke Therapeutics stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total value of $91,637.83. Following the transaction, the general counsel directly owned 21,225 shares of the company's stock, valued at $679,836.75. This trade represents a 11.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 34,594 shares of company stock worth $1,069,305 over the last 90 days. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Stoke Therapeutics in the second quarter valued at about $192,307,000. Redmile Group LLC increased its position in Stoke Therapeutics by 3.2% during the first quarter. Redmile Group LLC now owns 4,164,120 shares of the company's stock worth $135,584,000 after buying an additional 130,050 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Stoke Therapeutics by 13.7% in the second quarter. Wellington Management Group LLP now owns 3,519,301 shares of the company's stock worth $115,152,000 after acquiring an additional 423,601 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of Stoke Therapeutics in the second quarter worth $59,358,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Stoke Therapeutics by 11.2% in the first quarter. Janus Henderson Group PLC now owns 1,612,781 shares of the company's stock worth $52,456,000 after acquiring an additional 161,848 shares during the last quarter.

Stoke Therapeutics Trading Down 1.8%

Shares of STOK opened at $24.17 on Friday. The firm's 50-day moving average is $28.64 and its two-hundred day moving average is $30.55. Stoke Therapeutics has a twelve month low of $20.32 and a twelve month high of $40.22. The firm has a market capitalization of $1.56 billion, a P/E ratio of -7.24 and a beta of 1.26.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.13). Stoke Therapeutics had a negative net margin of 753.60% and a negative return on equity of 59.36%. The company had revenue of $9.32 million during the quarter, compared to analysts' expectations of $4.89 million. Analysts predict that Stoke Therapeutics will post -3.52 EPS for the current year.

About Stoke Therapeutics

Stoke Therapeutics, Inc is a biotechnology company developing genetic medicines for severe diseases caused by inadequate protein expression. The company's approach, known as TANGO (Targeted Augmentation of Nuclear Gene Output), uses antisense oligonucleotides to selectively modulate pre-messenger RNA splicing and increase production of functional proteins from disease-associated genes.

Stoke's lead program is zorevunersen (STK-001), an investigational antisense oligonucleotide designed to increase functional NaV1.1 protein expression in people with Dravet syndrome, a severe genetic epilepsy caused primarily by mutations in the SCN1A gene.

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