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

Key Points

• Stoke Therapeutics shares reached a new 52-week high of $17.61 after an analyst upgrade by Wedbush, which raised their price target from $16.00 to $22.00.
• Multiple analysts currently rate Stoke Therapeutics stocks positively, with an average target price of $25.17 and six investment analysts recommending a buy.
• The company reported better-than-expected quarterly earnings with an EPS of ($0.40), surpassing estimates of ($0.57), generating $13.82 million in revenue despite missing expectations of $31.51 million.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday after Wedbush raised their price target on the stock from $16.00 to $22.00. Wedbush currently has an outperform rating on the stock. Stoke Therapeutics traded as high as $17.61 and last traded at $16.91, with a volume of 2621877 shares traded. The stock had previously closed at $13.53.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Stoke Therapeutics in a report on Friday, July 18th. They set a "buy" rating and a $30.00 target price for the company. HC Wainwright lowered their price target on Stoke Therapeutics from $47.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Cantor Fitzgerald upgraded Stoke Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $22.00 target price on shares of Stoke Therapeutics in a research note on Tuesday, July 1st. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $25.17.

Insiders Place Their Bets

In other Stoke Therapeutics news, insider Barry Ticho sold 4,504 shares of the company's stock in a transaction that occurred 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 owned 16,775 shares in the company, valued at approximately $215,055.50. This represents a 21.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 12,720 shares of company stock worth $140,095. Insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On Stoke Therapeutics

Several hedge funds have recently made changes to their positions in STOK. Toronto Dominion Bank purchased a new position in Stoke Therapeutics during the 4th quarter valued at about $35,001,000. RTW Investments LP lifted its position in Stoke Therapeutics by 10.1% during the 4th quarter. RTW Investments LP now owns 5,123,525 shares of the company's stock valued at $56,512,000 after acquiring an additional 471,240 shares during the period. Checkpoint Capital L.P. lifted its position in Stoke Therapeutics by 139.3% during the 1st quarter. Checkpoint Capital L.P. now owns 730,717 shares of the company's stock valued at $4,859,000 after acquiring an additional 425,330 shares during the period. Erste Asset Management GmbH purchased a new position in Stoke Therapeutics during the 1st quarter valued at about $2,670,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Stoke Therapeutics during the 1st quarter valued at about $2,376,000.

Stoke Therapeutics Stock Performance

The company has a market capitalization of $923.29 million, a PE ratio of 19.89 and a beta of 1.15. The business's 50-day moving average is $12.28 and its 200-day moving average is $10.06.

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, beating analysts' consensus estimates of ($0.57) by $0.17. Stoke Therapeutics had a net margin of 26.25% and a return on equity of 19.41%. The company had revenue of $13.82 million during the quarter, compared to analysts' expectations of $31.51 million. Analysts expect that Stoke Therapeutics, Inc. will post -2.01 EPS for the current year.

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.

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