Assenagon Asset Management S.A. Sells 421,630 Shares of Stoke Therapeutics, Inc. $STOK

Key Points

• Assenagon Asset Management S.A. reduced its stake in Stoke Therapeutics by 43.9%, selling 421,630 shares and now holding approximately 0.99% of the company valued at $6.1 million.
• Insider transactions were significant, with key executives selling shares, including Barry Ticho and Jonathan Allan, leading to noticeable decreases in their ownership stakes.
• Wall Street analysts generally have a "buy" rating for Stoke Therapeutics with price targets ranging from $22.00 to $30.00, reflecting confidence in the company's growth prospects.

Assenagon Asset Management S.A. decreased its holdings in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) by 43.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 537,973 shares of the company's stock after selling 421,630 shares during the quarter. Assenagon Asset Management S.A. owned about 0.99% of Stoke Therapeutics worth $6,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Stoke Therapeutics by 1,842.0% during the 1st quarter. GAMMA Investing LLC now owns 5,360 shares of the company's stock valued at $36,000 after acquiring an additional 5,084 shares during the period. AlphaQuest LLC bought a new position in shares of Stoke Therapeutics in the first quarter worth $72,000. US Bancorp DE increased its holdings in shares of Stoke Therapeutics by 9,743.9% in the first quarter. US Bancorp DE now owns 11,222 shares of the company's stock worth $75,000 after purchasing an additional 11,108 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Stoke Therapeutics in the first quarter worth $92,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Stoke Therapeutics in the first quarter worth $107,000.

Insider Transactions at Stoke Therapeutics

In related news, insider Barry Ticho sold 5,501 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $19.87, for a total value of $109,304.87. Following the completion of the transaction, the insider directly owned 18,469 shares of the company's stock, valued at $366,979.03. This represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jonathan Allan sold 6,345 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $20.07, for a total transaction of $127,344.15. Following the completion of the transaction, the general counsel directly owned 11,831 shares of the company's stock, valued at approximately $237,448.17. The trade was a 34.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,719 shares of company stock worth $2,063,359. Company insiders own 9.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STOK. Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 price target on shares of Stoke Therapeutics in a report on Tuesday, July 1st. Wedbush upped their price target on shares of Stoke Therapeutics from $16.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Jefferies Financial Group began coverage on shares of Stoke Therapeutics in a report on Friday, July 18th. They issued a "buy" rating and a $30.00 price target on the stock. BTIG Research set a $28.00 price target on shares of Stoke Therapeutics and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $24.00 price target on shares of Stoke Therapeutics in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $25.57.

Stoke Therapeutics Trading Down 1.0%

Stoke Therapeutics stock opened at $22.63 on Wednesday. The firm has a 50-day moving average of $17.60 and a 200-day moving average of $12.28. The firm has a market cap of $1.24 billion, a P/E ratio of 26.62 and a beta of 1.14. Stoke Therapeutics, Inc. has a 1-year low of $5.35 and a 1-year high of $24.60.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.17. The company had revenue of $13.82 million during the quarter, compared to analyst estimates of $31.51 million. Stoke Therapeutics had a net margin of 26.25% and a return on equity of 18.32%. Research analysts forecast that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

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.

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