Rhenman & Partners Asset Management AB Invests $5.88 Million in Stoke Therapeutics, Inc. $STOK

Key Points

• Rhenman & Partners Asset Management AB established a new stake in Stoke Therapeutics during Q3, buying 250,000 shares worth about $5.88 million and owning roughly 0.44% of the company at quarter-end.
• Analysts have grown more bullish, with several firms raising price targets (HC Wainwright and UBS to $50) and the stock holding an average rating of "Moderate Buy" and an average price target of $39.25.
• Company insiders sold shares in December (a director sold 13,430 shares and the general counsel sold 3,978), while STOK trades near $35.48 with a market cap of about $2.03 billion.

Rhenman & Partners Asset Management AB acquired a new position in Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 250,000 shares of the company's stock, valued at approximately $5,875,000. Rhenman & Partners Asset Management AB owned about 0.44% of Stoke Therapeutics at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of STOK. First Trust Advisors LP purchased a new position in Stoke Therapeutics in the 3rd quarter worth approximately $3,579,000. Dimensional Fund Advisors LP raised its position in shares of Stoke Therapeutics by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 678,307 shares of the company's stock valued at $15,946,000 after buying an additional 4,423 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Stoke Therapeutics during the 3rd quarter valued at $771,000. Kennondale Capital Management LLC lifted its holdings in shares of Stoke Therapeutics by 14.0% during the 3rd quarter. Kennondale Capital Management LLC now owns 69,732 shares of the company's stock worth $1,639,000 after acquiring an additional 8,549 shares during the last quarter. Finally, Generali Investments Management Co LLC bought a new stake in shares of Stoke Therapeutics during the 3rd quarter worth $41,000.

Analyst Ratings Changes

A number of research analysts recently commented on STOK shares. HC Wainwright increased their target price on Stoke Therapeutics from $35.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, December 15th. Canaccord Genuity Group upped their price objective on Stoke Therapeutics from $28.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, January 5th. Wedbush raised their price objective on Stoke Therapeutics from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, January 12th. UBS Group set a $50.00 target price on Stoke Therapeutics in a research report on Monday, December 15th. Finally, Loop Capital set a $35.00 price target on shares of Stoke Therapeutics in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.25.

Stoke Therapeutics Trading Up 2.4%

STOK opened at $35.48 on Friday. Stoke Therapeutics, Inc. has a 12 month low of $5.35 and a 12 month high of $39.81. The business's 50-day moving average price is $32.19 and its 200-day moving average price is $29.02. The company has a market cap of $2.03 billion, a P/E ratio of 52.96 and a beta of 1.07.

Insider Activity at Stoke Therapeutics

In other news, Director Edward M. Md Kaye sold 13,430 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $32.27, for a total transaction of $433,386.10. Following the completion of the sale, the director owned 49,124 shares of the company's stock, valued at approximately $1,585,231.48. This represents a 21.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jonathan Allan sold 3,978 shares of the firm's stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $32.28, for a total transaction of $128,409.84. Following the completion of the transaction, the general counsel owned 11,831 shares in the company, valued at $381,904.68. This represents a 25.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 9.50% of the stock is owned by company insiders.

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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