Stoke Therapeutics (NASDAQ:STOK) Sets New 52-Week High - Here's Why

Key Points

• Stoke Therapeutics' stock reached a new 52-week high at $24.80, reflecting strong market performance with a closing price of $24.24 and trading volume of 170,843 shares.
• Analyst ratings for Stoke Therapeutics are largely positive, with multiple firms issuing "buy" ratings and target prices ranging from $22.00 to $30.00, leading to an average target price of $25.57.
• Insider transactions were notable, with significant sales resulting in a combined reduction of shares for insiders Barry Ticho and Edward M. Md Kaye, indicating possible shifts in insider confidence in the company.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.80 and last traded at $24.24, with a volume of 170843 shares. The stock had previously closed at $24.14.

Analyst Upgrades and Downgrades

STOK has been the topic of several research analyst reports. Chardan Capital reissued a "buy" rating and issued a $24.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, August 13th. Wedbush increased their price objective on Stoke Therapeutics from $16.00 to $22.00 and gave the stock an "outperform" rating in a research note 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 research note on Tuesday, July 1st. BTIG Research set a $28.00 price objective on Stoke Therapeutics and gave the stock a "buy" rating in a research note on Monday, August 18th. Finally, Jefferies Financial Group initiated coverage on Stoke Therapeutics in a research report on Friday, July 18th. They set a "buy" rating and a $30.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $25.57.

Stoke Therapeutics Trading Up 1.0%

The firm has a market cap of $1.34 billion, a P/E ratio of 28.71 and a beta of 1.14. The firm has a 50-day simple moving average of $18.25 and a 200-day simple moving average of $12.62.

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

Insider Activity

In other news, insider Barry Ticho sold 5,501 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $19.87, for a total transaction of $109,304.87. Following the completion of the sale, the insider owned 18,469 shares in the company, valued at approximately $366,979.03. This represents a 22.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward M. Md Kaye sold 45,996 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $20.13, for a total value of $925,899.48. Following the completion of the transaction, the director owned 91,585 shares of the company's stock, valued at $1,843,606.05. This trade represents a 33.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,719 shares of company stock worth $2,063,359. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC purchased a new position in Stoke Therapeutics in the 2nd quarter worth $7,489,000. Osaic Holdings Inc. raised its stake in Stoke Therapeutics by 263.3% in the 2nd quarter. Osaic Holdings Inc. now owns 7,488 shares of the company's stock worth $85,000 after acquiring an additional 5,427 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Stoke Therapeutics by 461.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company's stock worth $50,000 after acquiring an additional 3,591 shares during the last quarter. Opaleye Management Inc. raised its stake in Stoke Therapeutics by 87.4% in the 2nd quarter. Opaleye Management Inc. now owns 562,120 shares of the company's stock worth $6,380,000 after acquiring an additional 262,120 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Stoke Therapeutics in the 2nd quarter worth $156,000.

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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