The Manufacturers Life Insurance Company Makes New Investment in Stoke Therapeutics, Inc. $STOK

Key Points

• The Manufacturers Life Insurance Company initiated a position in Stoke Therapeutics, buying 66,160 shares valued at approximately $2.17 million, or about 0.10% of the company. Several other institutional investors also increased their holdings.
• Stoke shares opened at $30.50, down 1.3%, with a market capitalization of roughly $1.97 billion. The company reported a quarterly loss of $0.93 per share, wider than analysts’ expected loss of $0.80, despite revenue of $9.32 million exceeding estimates.
• Analysts remain broadly positive, with 10 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $44.25 versus the stock’s reported price.

The Manufacturers Life Insurance Company bought a new position in Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 66,160 shares of the company's stock, valued at approximately $2,165,000. The Manufacturers Life Insurance Company owned approximately 0.10% of Stoke Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Stoke Therapeutics by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 989,936 shares of the company's stock worth $32,229,000 after purchasing an additional 162,797 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Stoke Therapeutics by 11.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,612,781 shares of the company's stock worth $52,456,000 after buying an additional 161,848 shares in the last quarter. Candriam S.C.A. lifted its position in shares of Stoke Therapeutics by 12.4% during the 1st quarter. Candriam S.C.A. now owns 502,020 shares of the company's stock worth $16,346,000 after buying an additional 55,330 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Stoke Therapeutics by 163.4% in the 1st quarter. Bank of America Corp DE now owns 543,095 shares of the company's stock worth $17,683,000 after buying an additional 336,931 shares during the last quarter. Finally, EcoR1 Capital LLC purchased a new position in shares of Stoke Therapeutics in the 1st quarter worth approximately $3,256,000.

Stoke Therapeutics Stock Down 1.3%

Shares of STOK stock opened at $30.50 on Thursday. The firm has a market cap of $1.97 billion, a P/E ratio of -9.13 and a beta of 1.23. The company has a 50 day moving average of $31.23 and a 200-day moving average of $32.23. Stoke Therapeutics, Inc. has a 12-month low of $18.80 and a 12-month high of $40.22.

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

Insider Transactions at Stoke Therapeutics

In related news, insider Barry Ticho sold 7,176 shares of Stoke Therapeutics 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 completion of the sale, the insider owned 20,422 shares of the company's stock, valued at approximately $593,054.88. This trade represents a 26.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Edward M. Md Kaye sold 12,567 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total value of $402,521.01. Following the completion of the sale, the director owned 124,557 shares in the company, valued at $3,989,560.71. This represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 28,828 shares of company stock worth $898,874. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Canaccord Genuity Group decreased their price target on Stoke Therapeutics from $60.00 to $58.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Chardan Capital reissued a "buy" rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. BTIG Research restated a "buy" rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a research note on Monday, May 11th. Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. assumed coverage on Stoke Therapeutics in a research note on Friday, August 21st. They set an "overweight" rating and a $40.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.25.

Stoke Therapeutics Company 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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