Legal & General Group Plc Makes New Investment in Stoke Therapeutics, Inc. $STOK

Legal & General Group Plc purchased a new position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,705 shares of the company's stock, valued at approximately $1,168,000. Legal & General Group Plc owned approximately 0.06% of Stoke Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Stoke Therapeutics during the 2nd quarter worth approximately $192,307,000. RTW Investments LP boosted its position 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 during the period. Redmile Group LLC boosted its position in Stoke Therapeutics by 3.2% in the 1st quarter. Redmile Group LLC now owns 4,164,120 shares of the company's stock valued at $135,584,000 after buying 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 worth $112,555,000 after acquiring an additional 9,108 shares in the last quarter. Finally, State Street Corp increased its position in shares of Stoke Therapeutics by 75.2% during the fourth quarter. State Street Corp now owns 2,498,049 shares of the company's stock worth $79,288,000 after acquiring an additional 1,072,176 shares during the period.

Insider Activity

In other news, Director Edward Kaye sold 12,567 shares of the 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 in the company, valued at approximately $3,989,560.71. This represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $29.04, for a total value of $208,391.04. Following the sale, the insider directly owned 20,422 shares in the company, valued at $593,054.88. This trade represents a 26.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 34,373 shares of company stock worth $1,068,939. 9.60% of the stock is currently owned by insiders.

Stoke Therapeutics Stock Performance

Stoke Therapeutics stock opened at $29.81 on Tuesday. The company has a fifty day simple moving average of $31.12 and a 200-day simple moving average of $32.20. The stock has a market cap of $1.92 billion, a P/E ratio of -8.93 and a beta of 1.23. Stoke Therapeutics, Inc. has a 12-month low of $19.55 and a 12-month high of $40.22.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on STOK. BTIG Research reiterated a "buy" rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a research note on Monday, May 11th. Canaccord Genuity Group lowered their target price on Stoke Therapeutics from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. The Goldman Sachs Group began 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. Wedbush lifted their price objective on Stoke Therapeutics from $38.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. began coverage on Stoke Therapeutics in a research report on Friday, August 21st. They set an "overweight" rating and a $40.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Stoke Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $44.25.

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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