Granahan Investment Management LLC Boosts Stock Position in Stoke Therapeutics, Inc. $STOK

Key Points

• Granahan Investment Management LLC increased its stake in Stoke Therapeutics by 16.3% in the first quarter, now holding approximately 660,430 shares valued at $4.39 million.
• Research firms have issued positive ratings for Stoke Therapeutics, with target prices ranging from $22.00 to $30.00, indicating strong investor interest in the stock.
• Insiders, including Director Edward M. Md Kaye, recently sold over 107,000 shares of the company's stock, reducing their overall ownership by significant margins.

Granahan Investment Management LLC lifted its stake in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 660,430 shares of the company's stock after acquiring an additional 92,741 shares during the quarter. Granahan Investment Management LLC owned approximately 1.21% of Stoke Therapeutics worth $4,392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Checkpoint Capital L.P. grew its stake in shares of Stoke Therapeutics by 139.3% during the 1st quarter. Checkpoint Capital L.P. now owns 730,717 shares of the company's stock valued at $4,859,000 after acquiring an additional 425,330 shares during the period. ADAR1 Capital Management LLC bought a new position in shares of Stoke Therapeutics during the 1st quarter valued at approximately $200,000. MPM Bioimpact LLC grew its stake in shares of Stoke Therapeutics by 1.2% during the 1st quarter. MPM Bioimpact LLC now owns 693,988 shares of the company's stock valued at $4,615,000 after acquiring an additional 8,162 shares during the period. DAFNA Capital Management LLC grew its stake in shares of Stoke Therapeutics by 159.5% during the 1st quarter. DAFNA Capital Management LLC now owns 443,998 shares of the company's stock valued at $2,953,000 after acquiring an additional 272,901 shares during the period. Finally, Siren L.L.C. lifted its holdings in Stoke Therapeutics by 12.4% in the 1st quarter. Siren L.L.C. now owns 2,247,347 shares of the company's stock worth $14,945,000 after purchasing an additional 247,347 shares in the last quarter.

Insider Buying and Selling

In other Stoke Therapeutics news, 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 transaction, the insider owned 18,469 shares in the company, valued at $366,979.03. The trade was a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward M. Md Kaye sold 45,996 shares of Stoke Therapeutics stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $20.13, for a total value of $925,899.48. Following the completion of the transaction, the director owned 91,585 shares in the company, valued at $1,843,606.05. This trade represents a 33.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,719 shares of company stock valued at $2,063,359 over the last three months. 9.50% of the stock is owned by company insiders.

Stoke Therapeutics Stock Performance

STOK stock traded up $1.31 during midday trading on Monday, reaching $21.99. The company's stock had a trading volume of 1,434,514 shares, compared to its average volume of 999,282. The stock has a fifty day simple moving average of $14.92 and a two-hundred day simple moving average of $11.06. Stoke Therapeutics, Inc. has a 1 year low of $5.35 and a 1 year high of $22.39. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 24.33 and a beta of 1.14.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.17. Stoke Therapeutics had a return on equity of 18.32% and a net margin of 26.25%.The business had revenue of $13.82 million for the quarter, compared to analyst estimates of $31.51 million. As a group, analysts forecast that Stoke Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on STOK shares. Cantor Fitzgerald raised Stoke Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Wedbush upped their price objective on Stoke Therapeutics from $16.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Needham & Company LLC reissued a "buy" rating and set a $22.00 target price on shares of Stoke Therapeutics in a research report on Tuesday, July 1st. HC Wainwright cut their target price on Stoke Therapeutics from $47.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, Chardan Capital reissued a "buy" rating and set a $24.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $25.57.

About Stoke Therapeutics

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.