BlackRock Inc. Buys Shares of 5,877,357 Stoke Therapeutics, Inc. $STOK

Key Points

• BlackRock acquired 5,877,357 shares of Stoke Therapeutics during the second quarter, worth approximately $192.3 million and representing about 9.11% of the company.
• Stoke Therapeutics reported quarterly revenue of $9.32 million but missed earnings expectations, posting an EPS loss of $0.93 versus the consensus estimate of $0.80. Analysts maintain a “Moderate Buy” consensus with an average price target of $44.25.
• Company insiders sold 30,623 shares worth approximately $953,765 over the past 90 days, while the stock recently traded at $32.59 within a 12-month range of $18.80 to $40.22.

BlackRock Inc. purchased a new position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,877,357 shares of the company's stock, valued at approximately $192,307,000. BlackRock Inc. owned approximately 9.11% of Stoke Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Stoke Therapeutics by 1.2% in the fourth quarter. AQR Capital Management LLC now owns 29,467 shares of the company's stock valued at $935,000 after buying an additional 354 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Stoke Therapeutics by 22.6% in the second quarter. Versant Capital Management Inc now owns 1,951 shares of the company's stock worth $64,000 after acquiring an additional 359 shares in the last quarter. Strs Ohio grew its stake in shares of Stoke Therapeutics by 9.4% during the fourth quarter. Strs Ohio now owns 7,000 shares of the company's stock worth $222,000 after acquiring an additional 600 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Stoke Therapeutics by 0.5% during the first quarter. First Trust Advisors LP now owns 163,459 shares of the company's stock worth $5,322,000 after acquiring an additional 780 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Stoke Therapeutics during the fourth quarter valued at about $26,000.

Insiders Place Their Bets

In other Stoke Therapeutics news, insider Barry Ticho sold 7,176 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $29.04, for a total transaction of $208,391.04. Following the transaction, the insider directly owned 20,422 shares of the company's stock, valued at $593,054.88. This trade represents a 26.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 2,861 shares of Stoke Therapeutics stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total transaction of $91,637.83. Following the completion of the sale, the general counsel owned 21,225 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 30,623 shares of company stock worth $953,765. Company insiders own 9.60% of the company's stock.

Stoke Therapeutics Price Performance

Stoke Therapeutics stock opened at $32.59 on Friday. The stock has a market capitalization of $2.10 billion, a PE ratio of -9.76 and a beta of 1.20. The business has a 50 day simple moving average of $31.21 and a 200-day simple moving average of $32.26. Stoke Therapeutics, Inc. has a 12 month low of $18.80 and a 12 month high of $40.22.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last announced 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 business had revenue of $9.32 million for the quarter, compared to analysts' expectations of $4.89 million. On average, equities research analysts anticipate that Stoke Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Stoke Therapeutics in a research note on Friday, August 7th. BTIG Research reissued a "buy" rating and set a $39.00 price objective on shares of Stoke Therapeutics in a report on Monday, May 11th. Canaccord Genuity Group cut their target price on Stoke Therapeutics from $60.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. assumed coverage on Stoke Therapeutics in a research report on Friday, August 21st. They issued an "overweight" rating and a $40.00 target price on the stock. Finally, Chardan Capital restated a "buy" rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Stoke Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $44.25.

Stoke Therapeutics 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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