Stoke Therapeutics (NASDAQ:STOK) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Stoke Therapeutics' share price reached a new 52-week high after BTIG Research raised its price target from $28.00 to $39.00, with the stock last trading at $33.08.
• Despite the upgrades, Weiss Ratings has maintained a "sell" rating on the stock, while the consensus rating among analysts is a "Moderate Buy" with an average target price of $30.83.
• Insider selling has been notable, with Director Edward M. Md Kaye selling 25,000 shares for $750,000, representing a 33.73% decrease in his ownership.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday after BTIG Research raised their price target on the stock from $28.00 to $39.00. BTIG Research currently has a buy rating on the stock. Stoke Therapeutics traded as high as $32.75 and last traded at $33.08, with a volume of 869941 shares changing hands. The stock had previously closed at $30.34.

Several other brokerages have also recently issued reports on STOK. Weiss Ratings reissued a "sell (d+)" rating on shares of Stoke Therapeutics in a research report on Wednesday, October 8th. Jefferies Financial Group began coverage on Stoke Therapeutics in a research report on Friday, July 18th. They issued a "buy" rating and a $30.00 target price on the stock. Wedbush raised their target price on Stoke Therapeutics from $16.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Chardan Capital reissued a "buy" rating and issued a $24.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Finally, Needham & Company LLC raised their target price on Stoke Therapeutics from $22.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Stoke Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $30.83.

Insider Buying and Selling

In other news, Director Edward M. Md Kaye sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $30.00, for a total value of $750,000.00. Following the transaction, the director owned 49,124 shares in the company, valued at $1,473,720. This trade represents a 33.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jonathan Allan sold 10,000 shares of Stoke Therapeutics stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $25.07, for a total value of $250,700.00. Following the transaction, the general counsel owned 11,831 shares in the company, valued at approximately $296,603.17. The trade was a 45.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,180 shares of company stock worth $4,129,406 in the last three months. 9.50% of the stock is owned by insiders.

Institutional Trading of Stoke Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in STOK. Vanguard Group Inc. increased its position in Stoke Therapeutics by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,784,202 shares of the company's stock worth $18,515,000 after purchasing an additional 53,004 shares during the period. Marshall Wace LLP increased its position in Stoke Therapeutics by 7.9% during the 2nd quarter. Marshall Wace LLP now owns 2,300,554 shares of the company's stock worth $26,111,000 after purchasing an additional 168,771 shares during the period. Siren L.L.C. increased its position in Stoke Therapeutics by 12.4% during the 1st quarter. Siren L.L.C. now owns 2,247,347 shares of the company's stock worth $14,945,000 after purchasing an additional 247,347 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Stoke Therapeutics by 21.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company's stock worth $11,053,000 after acquiring an additional 293,072 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Stoke Therapeutics by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 972,921 shares of the company's stock worth $11,044,000 after acquiring an additional 70,935 shares during the period.

Stoke Therapeutics Stock Performance

The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 38.93 and a beta of 1.24. The business has a fifty day moving average of $21.32 and a two-hundred day moving average of $14.08.

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 for the quarter, topping analysts' consensus estimates of ($0.57) by $0.17. The company 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%. On average, equities research analysts forecast that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current year.

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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