Insider Selling: Stoke Therapeutics (NASDAQ:STOK) General Counsel Sells 2,861 Shares

Key Points

• General Counsel Jonathan Allan sold 2,861 Stoke Therapeutics shares for approximately $91,638 at an average price of $32.03. The sale, which reduced his holdings by 11.88%, was made to cover tax withholding tied to vested equity awards.
• Stoke reported a quarterly loss of $0.93 per share, missing estimates by $0.13, although revenue of $9.32 million exceeded expectations. The company remains unprofitable, with analysts forecasting a full-year loss of $3.50 per share.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus rating and an average price target of $43 versus the stock’s recent price near $32.14.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) General Counsel Jonathan Allan sold 2,861 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total value of $91,637.83. Following the completion of the sale, the general counsel directly owned 21,225 shares of the company's stock, valued at approximately $679,836.75. This represents a 11.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jonathan Allan also recently made the following trade(s):

• On Tuesday, June 16th, Jonathan Allan sold 1,457 shares of Stoke Therapeutics stock. The stock was sold at an average price of $29.95, for a total value of $43,637.15.

Stoke Therapeutics Stock Performance

Shares of NASDAQ STOK traded up $0.01 during trading on Tuesday, hitting $32.14. 574,554 shares of the company were exchanged, compared to its average volume of 816,472. The company has a fifty day moving average price of $30.81 and a 200-day moving average price of $32.21. The firm has a market capitalization of $2.07 billion, a PE ratio of -9.62 and a beta of 1.20. Stoke Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $40.22.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.13). The firm had revenue of $9.32 million for the quarter, compared to analyst estimates of $4.89 million. Stoke Therapeutics had a negative return on equity of 59.36% and a negative net margin of 753.60%. Research analysts anticipate that Stoke Therapeutics, Inc. will post -3.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STOK shares. The Goldman Sachs Group initiated coverage on Stoke Therapeutics in a research note on Monday, July 13th. They set a "buy" rating and a $44.00 target price for the company. Wedbush increased their price target on Stoke Therapeutics from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Canaccord Genuity Group cut their price objective 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. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.00.

Institutional Trading of Stoke Therapeutics

Several hedge funds have recently made changes to their positions in STOK. Kestra Advisory Services LLC purchased a new position in shares of Stoke Therapeutics in the fourth quarter valued at approximately $26,000. Quantbot Technologies LP purchased a new stake in Stoke Therapeutics during the 2nd quarter worth approximately $34,000. KBC Group NV acquired a new stake in Stoke Therapeutics during the 1st quarter worth approximately $36,000. Harbour Investments Inc. lifted its holdings in Stoke Therapeutics by 312.9% during the 4th quarter. Harbour Investments Inc. now owns 1,185 shares of the company's stock worth $38,000 after buying an additional 898 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in Stoke Therapeutics in the 1st quarter valued at approximately $55,000.

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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