Bank of New York Mellon Corp Makes New Investment in Stoke Therapeutics, Inc. $STOK

Bank of New York Mellon Corp acquired a new position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 164,273 shares of the company's stock, valued at approximately $5,375,000. Bank of New York Mellon Corp owned approximately 0.26% of Stoke Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Stoke Therapeutics during the fourth quarter worth about $26,000. KBC Group NV purchased a new position in Stoke Therapeutics during the first quarter valued at $36,000. Harbour Investments Inc. boosted its holdings in Stoke Therapeutics by 312.9% in the 4th quarter. Harbour Investments Inc. now owns 1,185 shares of the company's stock worth $38,000 after buying an additional 898 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Stoke Therapeutics by 66.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company's stock valued at $48,000 after purchasing an additional 1,668 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Stoke Therapeutics by 461.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company's stock valued at $50,000 after acquiring an additional 3,591 shares in the last quarter.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, Director Edward Kaye sold 12,567 shares of Stoke Therapeutics stock in a transaction that occurred 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 sale, the director directly owned 124,557 shares in the company, valued at $3,989,560.71. The trade was a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Barry Ticho sold 7,176 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $29.04, for a total transaction of $208,391.04. Following the completion of the sale, the insider directly owned 20,422 shares of the company's stock, valued at $593,054.88. The trade was a 26.00% 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 90 days, insiders sold 34,373 shares of company stock valued at $1,068,939. Insiders own 9.60% of the company's stock.

Analysts Set New Price Targets

STOK has been the topic of a number of analyst reports. Canaccord Genuity Group reduced their target price on shares of Stoke Therapeutics from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. JPMorgan Chase & Co. initiated coverage on shares of Stoke Therapeutics in a research note on Friday, August 21st. They set an "overweight" rating and a $40.00 price target on the stock. BTIG Research reissued a "buy" rating and issued a $39.00 price target on shares of Stoke Therapeutics in a research report on Monday, May 11th. The Goldman Sachs Group initiated coverage on Stoke Therapeutics in a report on Monday, July 13th. They set a "buy" rating and a $44.00 price target on the stock. Finally, Chardan Capital reiterated a "buy" rating and set a $35.00 price target on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.25.

Stoke Therapeutics Price Performance

NASDAQ:STOK opened at $29.81 on Friday. The firm has a market cap of $1.92 billion, a PE ratio of -8.93 and a beta of 1.23. The firm has a 50 day simple moving average of $31.17 and a 200-day simple moving average of $32.20. Stoke Therapeutics, Inc. has a 1-year low of $19.55 and a 1-year high of $40.22.

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