Stoke Therapeutics, Inc. (NASDAQ:STOK) Sees Significant Growth in Short Interest

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 8,310,000 shares, a growth of 50.3% from the April 15th total of 5,530,000 shares. Based on an average daily volume of 1,260,000 shares, the short-interest ratio is presently 6.6 days.

Stoke Therapeutics Stock Performance

Stoke Therapeutics stock traded down $0.53 during midday trading on Friday, reaching $11.48. The company's stock had a trading volume of 894,702 shares, compared to its average volume of 884,226. Stoke Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $16.40. The stock's 50 day simple moving average is $10.47 and its 200 day simple moving average is $6.81. The firm has a market capitalization of $598.34 million, a PE ratio of -4.76 and a beta of 0.82.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.02. The firm had revenue of $2.80 million for the quarter, compared to analyst estimates of $3.70 million. Equities analysts predict that Stoke Therapeutics will post -2.29 earnings per share for the current year.

Insiders Place Their Bets

In other Stoke Therapeutics news, CEO Edward M. Md Kaye sold 11,150 shares of the business's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.10, for a total transaction of $68,015.00. Following the sale, the chief executive officer now directly owns 69,350 shares in the company, valued at $423,035. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Skorpios Trust sold 3,600,000 shares of the company's stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the sale, the insider now directly owns 10,843,681 shares in the company, valued at $125,786,699.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward M. Md Kaye sold 11,150 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total transaction of $68,015.00. Following the sale, the chief executive officer now owns 69,350 shares in the company, valued at $423,035. The disclosure for this sale can be found here. Insiders have sold 3,622,741 shares of company stock worth $41,935,115 over the last three months. Company insiders own 11.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in STOK. Lynx1 Capital Management LP acquired a new position in Stoke Therapeutics in the 3rd quarter valued at about $6,738,000. GSA Capital Partners LLP grew its holdings in Stoke Therapeutics by 514.7% in the 3rd quarter. GSA Capital Partners LLP now owns 348,069 shares of the company's stock valued at $1,371,000 after buying an additional 291,443 shares during the period. Birchview Capital LP grew its holdings in Stoke Therapeutics by 147.1% in the 4th quarter. Birchview Capital LP now owns 210,000 shares of the company's stock valued at $1,105,000 after buying an additional 125,000 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Stoke Therapeutics in the 1st quarter valued at about $1,224,000. Finally, Trexquant Investment LP grew its holdings in Stoke Therapeutics by 166.9% in the 3rd quarter. Trexquant Investment LP now owns 127,581 shares of the company's stock valued at $503,000 after buying an additional 79,785 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Stoke Therapeutics from $6.00 to $13.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 26th. Canaccord Genuity Group lowered their price target on Stoke Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday. Wedbush upped their price target on Stoke Therapeutics from $13.00 to $17.00 and gave the company an "outperform" rating in a report on Tuesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 price target on shares of Stoke Therapeutics in a report on Monday, May 6th. Finally, TD Cowen raised Stoke Therapeutics from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Stoke Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $20.57.

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.