Assenagon Asset Management S.A. Acquires 52,394 Shares of Stoke Therapeutics, Inc. $STOK

Key Points

• Assenagon Asset Management increased its Stoke Therapeutics holdings by 4.6%, acquiring 52,394 shares and bringing its total stake to 1.18 million shares, worth approximately $30.7 million.
• Stoke shares opened at $24.17, near the lower end of their 52-week range of $20.32 to $40.22. The company reported a quarterly loss of $0.93 per share, missing estimates, despite revenue of $9.32 million exceeding forecasts.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $44.25; ten analysts rate the stock a Buy and one rates it a Sell.

Assenagon Asset Management S.A. increased its holdings in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,180,782 shares of the company's stock after acquiring an additional 52,394 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.83% of Stoke Therapeutics worth $30,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tidal Investments LLC increased its holdings in shares of Stoke Therapeutics by 16.1% in the second quarter. Tidal Investments LLC now owns 9,917 shares of the company's stock valued at $324,000 after buying an additional 1,377 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Stoke Therapeutics during the 2nd quarter valued at $959,000. Corient Private Wealth LP acquired a new stake in Stoke Therapeutics during the 2nd quarter valued at $1,009,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Stoke Therapeutics in the second quarter valued at $443,000. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Stoke Therapeutics in the second quarter valued at $255,000.

Stoke Therapeutics Stock Performance

Shares of NASDAQ STOK opened at $24.17 on Friday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -7.24 and a beta of 1.26. The business has a 50 day simple moving average of $28.64 and a 200 day simple moving average of $30.55. Stoke Therapeutics, Inc. has a 52 week low of $20.32 and a 52 week high of $40.22.

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

Insider Buying and Selling

In other Stoke Therapeutics news, Director Edward M. Md Kaye sold 12,567 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total value of $402,521.01. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Barry Ticho sold 1,051 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $26.16, for a total value of $27,494.16. Following the sale, the insider owned 19,059 shares of the company's stock, valued at approximately $498,583.44. This trade represents a 5.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 34,594 shares of company stock worth $1,069,305. Corporate insiders own 9.60% of the company's stock.

Wall Street Analyst Weigh In

STOK has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Stoke Therapeutics in a research report on Thursday, September 10th. Chardan Capital reissued a "buy" rating and set a $35.00 price target on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Canaccord Genuity Group lowered their target price on Stoke Therapeutics from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Finally, Wedbush lifted their target price on Stoke Therapeutics from $38.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.25.

Stoke Therapeutics Company Profile

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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