Redmile Group LLC Decreases Stock Holdings in Stoke Therapeutics, Inc. $STOK

Key Points

• Redmile Group LLC has reduced its holdings in Stoke Therapeutics, selling 107,648 shares, now owning 4,485,981 shares, which represents about 2.8% of its total holdings.
• Stoke Therapeutics reported quarterly earnings of ($0.40) per share, exceeding the expected loss of ($0.57), with revenues of $13.82 million against an estimate of $31.51 million.
• Equities analysts have given Stoke Therapeutics a consensus rating of "Buy" with a target price averaging $25.57, with recent upgrades from several firms suggesting potential for higher valuations.

Redmile Group LLC lessened its position in Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,485,981 shares of the company's stock after selling 107,648 shares during the quarter. Stoke Therapeutics makes up about 2.8% of Redmile Group LLC's investment portfolio, making the stock its 12th largest holding. Redmile Group LLC owned about 8.22% of Stoke Therapeutics worth $29,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Stoke Therapeutics by 1,842.0% during the first quarter. GAMMA Investing LLC now owns 5,360 shares of the company's stock valued at $36,000 after buying an additional 5,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Stoke Therapeutics by 123.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,505 shares of the company's stock valued at $1,053,000 after purchasing an additional 52,813 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Stoke Therapeutics during the first quarter valued at approximately $719,000. ProShare Advisors LLC purchased a new stake in shares of Stoke Therapeutics during the fourth quarter valued at approximately $139,000. Finally, XTX Topco Ltd purchased a new stake in shares of Stoke Therapeutics during the first quarter valued at approximately $267,000.

Stoke Therapeutics Stock Up 5.3%

NASDAQ:STOK traded up $1.05 during midday trading on Friday, hitting $20.68. The stock had a trading volume of 542,954 shares, compared to its average volume of 991,371. Stoke Therapeutics, Inc. has a one year low of $5.35 and a one year high of $20.90. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 24.33 and a beta of 1.14. The stock has a 50-day moving average of $14.92 and a 200 day moving average of $11.04.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.17. The company had revenue of $13.82 million for the quarter, compared to analysts' expectations of $31.51 million. Stoke Therapeutics had a return on equity of 18.32% and a net margin of 26.25%. On average, sell-side analysts anticipate that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Jonathan Allan sold 6,345 shares of Stoke Therapeutics stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $20.07, for a total value of $127,344.15. Following the sale, the general counsel directly owned 11,831 shares in the company, valued at approximately $237,448.17. The trade was a 34.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Barry Ticho sold 5,501 shares of Stoke Therapeutics stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $19.87, for a total value of $109,304.87. Following the completion of the sale, the insider owned 18,469 shares in the company, valued at approximately $366,979.03. The trade was a 22.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,719 shares of company stock valued at $2,063,359. Company insiders own 9.50% of the company's stock.

Wall Street Analysts Forecast Growth

STOK has been the subject of a number of research analyst reports. BTIG Research set a $28.00 target price on Stoke Therapeutics and gave the stock a "buy" rating in a report on Monday, August 18th. Wedbush lifted their target price on Stoke Therapeutics from $16.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research report on Tuesday, July 1st. Cantor Fitzgerald upgraded Stoke Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Finally, HC Wainwright reduced their price objective on Stoke Therapeutics from $47.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat.com, Stoke Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $25.57.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.