Bank of America Corp DE Buys 336,931 Shares of Stoke Therapeutics, Inc. $STOK

Bank of America Corp DE lifted its stake in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) by 163.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 543,095 shares of the company's stock after buying an additional 336,931 shares during the quarter. Bank of America Corp DE owned about 0.87% of Stoke Therapeutics worth $17,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. RTW Investments LP grew its holdings in Stoke Therapeutics by 8.3% in the 4th quarter. RTW Investments LP now owns 5,546,856 shares of the company's stock valued at $176,057,000 after buying an additional 423,331 shares in the last quarter. Redmile Group LLC boosted its position in shares of Stoke Therapeutics by 3.2% in the first quarter. Redmile Group LLC now owns 4,164,120 shares of the company's stock valued at $135,584,000 after acquiring an additional 130,050 shares during the period. Morgan Stanley grew its stake in shares of Stoke Therapeutics by 0.3% in the fourth quarter. Morgan Stanley now owns 3,546,158 shares of the company's stock valued at $112,555,000 after acquiring an additional 9,108 shares in the last quarter. State Street Corp raised its stake in Stoke Therapeutics by 75.2% in the 4th quarter. State Street Corp now owns 2,498,049 shares of the company's stock worth $79,288,000 after purchasing an additional 1,072,176 shares in the last quarter. Finally, BVF Inc. IL raised its stake in Stoke Therapeutics by 36.7% in the 4th quarter. BVF Inc. IL now owns 2,265,674 shares of the company's stock worth $71,912,000 after purchasing an additional 608,578 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Stoke Therapeutics in a research report on Friday, August 7th. The Goldman Sachs Group assumed coverage on Stoke Therapeutics in a report on Monday, July 13th. They issued a "buy" rating and a $44.00 target price on the stock. Wedbush lifted their price target on Stoke Therapeutics from $38.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Guggenheim reissued a "buy" rating and set a $60.00 price target on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group reduced their price objective 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. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, insider Barry Ticho sold 4,767 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total value of $152,687.01. Following the completion of the transaction, the insider directly owned 25,655 shares of the company's stock, valued at $821,729.65. This trade represents a 15.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction, the director owned 124,557 shares of the company's stock, valued at approximately $3,989,560.71. The trade was a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 30,623 shares of company stock worth $953,765. 9.60% of the stock is owned by corporate insiders.

Stoke Therapeutics Trading Up 2.8%

NASDAQ:STOK opened at $33.03 on Thursday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -9.89 and a beta of 1.20. Stoke Therapeutics, Inc. has a 12 month low of $18.00 and a 12 month high of $40.22. The firm has a fifty day simple moving average of $30.90 and a two-hundred day simple moving average of $32.23.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $4.89 million. Equities analysts predict that Stoke Therapeutics, Inc. will post -3.5 earnings per share for the current fiscal year.

Stoke Therapeutics Company Profile

Stoke Therapeutics, headquartered in Bedford, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing genetic medicines to upregulate protein production for the treatment of rare neuromuscular and neurological disorders. Founded in 2014, the company applies its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO™) platform to design antisense oligonucleotides that selectively modulate RNA splicing and enhance expression of functional proteins.

The company's lead program, STK-001, is an antisense oligonucleotide therapy designed to increase production of the sodium channel protein SCN1A and is currently in clinical development for Dravet syndrome, a severe childhood-onset epilepsy.

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