Stoke Therapeutics (NASDAQ:STOK) Hits New 52-Week High - Still a Buy?

Key Points

• Stoke Therapeutics hit a new 52-week high of $39.88 (last $39.745) on Tuesday with ~396,373 shares traded, valuing the company at about $2.20 billion and trading at a PE of 57.5 while sitting above its 50-day ($32.31) and 200-day ($29.22) moving averages.
• Wall Street sentiment is broadly positive — MarketBeat's consensus is a Moderate Buy with an average price target of $39.25, and several analysts raised targets (HC Wainwright and UBS to $50; Wolfe Research initiated at $40); ratings mix: 1 Strong Buy, 9 Buy, 2 Hold.
• Stoke is a clinical-stage biotech using its TANGO platform to upregulate protein production, with lead antisense program STK-001 in clinical development for SCN1A-driven Dravet syndrome.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $39.88 and last traded at $39.7450, with a volume of 396373 shares. The stock had previously closed at $38.31.

Wall Street Analysts Forecast Growth

STOK has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Stoke Therapeutics in a report on Monday, December 29th. HC Wainwright upped their target price on shares of Stoke Therapeutics from $35.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, December 15th. Wolfe Research assumed coverage on shares of Stoke Therapeutics in a research note on Monday, February 23rd. They set an "outperform" rating and a $40.00 target price for the company. Chardan Capital boosted their price target on shares of Stoke Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, January 5th. Finally, UBS Group set a $50.00 price objective on shares of Stoke Therapeutics in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.25.

Stoke Therapeutics Stock Performance

The firm has a market capitalization of $2.20 billion, a PE ratio of 57.52 and a beta of 1.07. The company has a fifty day moving average price of $32.31 and a 200-day moving average price of $29.22.

Hedge Funds Weigh In On Stoke Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its position in Stoke Therapeutics by 7.9% in the second quarter. Marshall Wace LLP now owns 2,300,554 shares of the company's stock worth $26,111,000 after acquiring an additional 168,771 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Stoke Therapeutics during the third quarter valued at approximately $3,539,000. Principal Financial Group Inc. bought a new stake in shares of Stoke Therapeutics in the 3rd quarter valued at approximately $1,062,000. Aviva PLC bought a new stake in shares of Stoke Therapeutics in the 2nd quarter valued at approximately $499,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Stoke Therapeutics by 264.8% in the 2nd quarter. Franklin Resources Inc. now owns 81,395 shares of the company's stock worth $924,000 after purchasing an additional 59,081 shares during the period.

About Stoke Therapeutics

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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