EcoR1 Capital LLC Takes Position in Stoke Therapeutics, Inc. $STOK

Key Points

• EcoR1 Capital initiated a position in Stoke Therapeutics during the first quarter, purchasing 100,000 shares valued at approximately $3.26 million, or 0.16% of the company.
• Analysts maintain a generally positive outlook: nine rate STOK a Buy, one a Hold, and one a Sell, producing a consensus “Moderate Buy” rating with an average price target of $43.
• STOK opened at $29.31, below its 52-week high of $40.22. The company slightly beat quarterly EPS estimates but missed revenue expectations and continues to report substantial losses as it develops genetic medicines, including STK-001 for Dravet syndrome.

EcoR1 Capital LLC purchased a new stake in Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $3,256,000. Stoke Therapeutics accounts for about 0.1% of EcoR1 Capital LLC's holdings, making the stock its 24th biggest position. EcoR1 Capital LLC owned 0.16% of Stoke Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STOK. AQR Capital Management LLC raised its position in Stoke Therapeutics by 1.2% in the fourth quarter. AQR Capital Management LLC now owns 29,467 shares of the company's stock worth $935,000 after purchasing an additional 354 shares in the last quarter. Strs Ohio lifted its stake in 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 purchasing an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Stoke Therapeutics by 31.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,776 shares of the company's stock valued at $88,000 after purchasing an additional 658 shares in the last quarter. Generali Investments Management Co LLC grew its stake in shares of Stoke Therapeutics by 41.0% in the 4th quarter. Generali Investments Management Co LLC now owns 2,471 shares of the company's stock valued at $78,000 after purchasing an additional 718 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Stoke Therapeutics by 0.5% in the 1st quarter. First Trust Advisors LP now owns 163,459 shares of the company's stock valued at $5,322,000 after purchasing an additional 780 shares during the period.

Wall Street Analysts Forecast Growth

STOK has been the topic of several recent analyst reports. Weiss Ratings lowered Stoke Therapeutics from a "hold (c)" rating to a "sell (d)" rating in a research note on Monday, May 11th. The Goldman Sachs Group started coverage on Stoke Therapeutics in a research note on Monday, July 13th. They set a "buy" rating and a $44.00 price objective for the company. Finally, 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. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Insider Buying and Selling

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 1,457 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $29.95, for a total value of $43,637.15. Following the transaction, the general counsel directly owned 18,086 shares in the company, valued at approximately $541,675.70. This trade represents a 7.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Barry Ticho sold 1,795 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $30.58, for a total value of $54,891.10. Following the completion of the transaction, the insider owned 34,826 shares in the company, valued at $1,064,979.08. The trade was a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is currently owned by corporate insiders.

Stoke Therapeutics Stock Performance

Shares of STOK stock opened at $29.31 on Tuesday. Stoke Therapeutics, Inc. has a 52 week low of $12.25 and a 52 week high of $40.22. The stock has a market capitalization of $1.83 billion, a PE ratio of -10.43 and a beta of 1.17. The stock's fifty day moving average is $30.41 and its 200-day moving average is $32.10.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.80) by $0.01. The business had revenue of $6.23 million during the quarter, compared to analysts' expectations of $6.48 million. Stoke Therapeutics had a negative return on equity of 48.84% and a negative net margin of 529.20%. As a group, analysts forecast that Stoke Therapeutics, Inc. will post -3.22 earnings per share for the current fiscal year.

About Stoke Therapeutics

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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