Moran Wealth Management LLC Takes $1.32 Million Position in Stoke Therapeutics, Inc. $STOK

Key Points

• Moran Wealth Management opened a new position in Stoke Therapeutics, buying 40,552 shares worth about $1.32 million in the first quarter.
• Wall Street sentiment remains mostly positive, with nine Buy ratings, one Hold, and one Sell; the average target price is $41.83.
• Stoke Therapeutics shares were up 1.1% to $32.79, while recent insider sales by Barry Ticho and Jonathan Allan were disclosed under pre-arranged Rule 10b5-1 plans.

Moran Wealth Management LLC purchased a new position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,552 shares of the company's stock, valued at approximately $1,320,000. Moran Wealth Management LLC owned about 0.07% of Stoke Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC raised its position in Stoke Therapeutics by 1.2% during the 4th quarter. AQR Capital Management LLC now owns 29,467 shares of the company's stock worth $935,000 after buying an additional 354 shares during the last quarter. Strs Ohio lifted its stake in shares of Stoke Therapeutics by 9.4% in the 4th quarter. Strs Ohio now owns 7,000 shares of the company's stock worth $222,000 after acquiring an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Stoke Therapeutics by 31.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,776 shares of the company's stock valued at $88,000 after acquiring an additional 658 shares in the last quarter. Generali Investments Management Co LLC boosted its holdings in shares of Stoke Therapeutics by 41.0% in the fourth quarter. Generali Investments Management Co LLC now owns 2,471 shares of the company's stock valued at $78,000 after acquiring an additional 718 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Stoke Therapeutics during the fourth quarter worth about $26,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STOK shares. Weiss Ratings downgraded shares of Stoke Therapeutics from a "hold (c)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Chardan Capital reiterated a "buy" rating and set a $35.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, March 18th. Canaccord Genuity Group raised their price target on Stoke Therapeutics from $36.00 to $60.00 and gave the company a "buy" rating in a report on Friday, March 20th. Needham & Company LLC lifted their price target on Stoke Therapeutics from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Finally, Wedbush upped their price objective on Stoke Therapeutics from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. 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 MarketBeat.com, Stoke Therapeutics has an average rating of "Moderate Buy" and an average target price of $41.83.

Insider Buying and Selling

In related news, insider Barry Ticho sold 1,795 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $30.58, for a total value of $54,891.10. Following the completion of the transaction, the insider directly owned 34,826 shares of the company's stock, valued at $1,064,979.08. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 1,457 shares of Stoke Therapeutics 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 of the company's stock, valued at approximately $541,675.70. This represents a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.50% of the company's stock.

Stoke Therapeutics Stock Up 1.1%

Shares of NASDAQ STOK traded up $0.36 during midday trading on Tuesday, hitting $32.79. The company had a trading volume of 32,139 shares, compared to its average volume of 745,717. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -11.63 and a beta of 1.17. Stoke Therapeutics, Inc. has a twelve month low of $11.66 and a twelve month high of $40.22. The business has a 50-day simple moving average of $31.16 and a two-hundred day simple moving average of $32.35.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.01. Stoke Therapeutics had a negative net margin of 529.20% and a negative return on equity of 48.84%. The company had revenue of $6.23 million for the quarter, compared to analyst estimates of $6.48 million. On average, equities analysts forecast that Stoke Therapeutics, Inc. will post -3.22 EPS for the current year.

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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