Stoke Therapeutics (NASDAQ:STOK) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• Stoke Therapeutics reported a loss of $0.40 per share for the quarter, significantly missing the consensus estimate of a loss of $0.09.
• Despite the earnings miss, the stock saw a 2.8% increase in trading price, reaching $13.53 with a market cap of $738.74 million.
• Several analysts have given the stock a buy rating, with price targets ranging from $22.00 to $35.00, while the average target stands at $25.80.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.17, Zacks reports. Stoke Therapeutics had a net margin of 26.33% and a return on equity of 19.08%. The firm had revenue of $13.82 million during the quarter, compared to analysts' expectations of $31.51 million.

Stoke Therapeutics Trading Up 2.8%

Shares of STOK stock opened at $13.53 on Wednesday. Stoke Therapeutics has a 12-month low of $5.35 and a 12-month high of $16.15. The business's fifty day simple moving average is $12.16 and its 200-day simple moving average is $10.01. The company has a market cap of $738.74 million, a PE ratio of 17.13 and a beta of 1.15.

Insider Activity at Stoke Therapeutics

In related news, insider Barry Ticho sold 4,504 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $12.82, for a total transaction of $57,741.28. Following the transaction, the insider directly owned 16,775 shares in the company, valued at $215,055.50. The trade was a 21.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 12,720 shares of company stock worth $140,095. Corporate insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On Stoke Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of Stoke Therapeutics by 21.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company's stock valued at $11,053,000 after acquiring an additional 293,072 shares in the last quarter. Rhumbline Advisers increased its stake in Stoke Therapeutics by 33.9% during the 2nd quarter. Rhumbline Advisers now owns 66,419 shares of the company's stock valued at $754,000 after purchasing an additional 16,820 shares in the last quarter. American Century Companies Inc. acquired a new position in Stoke Therapeutics during the 2nd quarter valued at approximately $310,000. JPMorgan Chase & Co. raised its holdings in shares of Stoke Therapeutics by 26.6% in the second quarter. JPMorgan Chase & Co. now owns 25,655 shares of the company's stock worth $291,000 after buying an additional 5,398 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Stoke Therapeutics by 125.2% during the first quarter. Jane Street Group LLC now owns 26,978 shares of the company's stock worth $179,000 after buying an additional 15,001 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on STOK shares. Cantor Fitzgerald raised shares of Stoke Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price target on shares of Stoke Therapeutics in a report on Tuesday, July 1st. Jefferies Financial Group began coverage on Stoke Therapeutics in a research note on Friday, July 18th. They set a "buy" rating and a $30.00 price objective for the company. Finally, HC Wainwright dropped their price objective on Stoke Therapeutics from $47.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Stoke Therapeutics currently has an average rating of "Buy" and an average price target of $25.80.

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.