Stoke Therapeutics (NASDAQ:STOK) Hits New 1-Year High - Here's Why

Key Points

• Stoke Therapeutics shares reached a new 52-week high of $20.20, driven by strong analyst ratings, with a consensus target price of $25.57.
• The company reported quarterly earnings of ($0.40) EPS, exceeding expectations, although revenue of $13.82 million fell short of analysts' estimates of $31.51 million.
• Recent insider trades showed key executives selling shares, indicating a decrease in their ownership, which may raise concerns among investors regarding insider confidence.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.20 and last traded at $20.02, with a volume of 25298 shares. The stock had previously closed at $19.76.

Analyst Upgrades and Downgrades

STOK has been the topic of several analyst reports. BTIG Research set a $28.00 target price on Stoke Therapeutics and gave the stock a "buy" rating in a report on Monday, August 18th. HC Wainwright dropped their target price on Stoke Therapeutics from $47.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Chardan Capital reaffirmed a "buy" rating and set a $24.00 target price on shares of Stoke Therapeutics in a report on Wednesday, August 13th. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price objective on shares of Stoke Therapeutics in a report on Tuesday, July 1st. Finally, Jefferies Financial Group initiated coverage on Stoke Therapeutics in a report on Friday, July 18th. They issued a "buy" rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $25.57.

Stoke Therapeutics Price Performance

The stock has a 50 day moving average price of $14.26 and a 200-day moving average price of $10.77. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 23.69 and a beta of 1.14.

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

Insider Buying and Selling

In related news, General Counsel Jonathan Allan sold 13,712 shares of Stoke Therapeutics stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $15.00, for a total transaction of $205,680.00. Following the transaction, the general counsel owned 19,631 shares in the company, valued at approximately $294,465. This trade represents a 41.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Barry Ticho sold 4,504 shares of Stoke Therapeutics stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $12.82, for a total value of $57,741.28. Following the transaction, the insider owned 16,775 shares in the company, valued at approximately $215,055.50. The trade was a 21.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On Stoke Therapeutics

A number of institutional investors have recently added to or reduced their stakes in STOK. Toronto Dominion Bank purchased a new position in Stoke Therapeutics during the fourth quarter worth approximately $35,001,000. Corient Private Wealth LLC purchased a new position in Stoke Therapeutics during the second quarter worth approximately $7,489,000. RTW Investments LP lifted its position in Stoke Therapeutics by 10.1% during the fourth quarter. RTW Investments LP now owns 5,123,525 shares of the company's stock worth $56,512,000 after buying an additional 471,240 shares in the last quarter. Checkpoint Capital L.P. lifted its position in Stoke Therapeutics by 139.3% during the first quarter. Checkpoint Capital L.P. now owns 730,717 shares of the company's stock worth $4,859,000 after buying an additional 425,330 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Stoke Therapeutics during the first quarter worth approximately $2,670,000.

Stoke Therapeutics Company Profile

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.

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