Stoke Therapeutics (NASDAQ:STOK) Shares Gap Up Following Earnings Beat

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) shares gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $9.66, but opened at $10.44. Stoke Therapeutics shares last traded at $10.03, with a volume of 63,514 shares changing hands.

The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $2.27. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on STOK. Chardan Capital reaffirmed a "buy" rating and set a $24.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, April 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $47.00 price target on shares of Stoke Therapeutics in a report on Wednesday, March 19th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $25.60.

Insider Buying and Selling

In related news, Director Edward M. Md Kaye sold 10,382 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $8.67, for a total transaction of $90,011.94. Following the completion of the sale, the director now directly owns 148,253 shares of the company's stock, valued at approximately $1,285,353.51. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barry Ticho sold 3,884 shares of Stoke Therapeutics stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.67, for a total transaction of $33,674.28. Following the sale, the insider now directly owns 63,962 shares in the company, valued at $554,550.54. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,532 shares of company stock worth $143,332 in the last quarter. Company insiders own 11.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STOK. Barclays PLC raised its stake in Stoke Therapeutics by 145.3% during the 3rd quarter. Barclays PLC now owns 79,740 shares of the company's stock valued at $980,000 after purchasing an additional 47,239 shares during the period. Assenagon Asset Management S.A. boosted its position in Stoke Therapeutics by 2.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,350,925 shares of the company's stock valued at $14,901,000 after purchasing an additional 38,446 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Stoke Therapeutics in the 4th quarter worth about $124,000. Rhumbline Advisers increased its position in Stoke Therapeutics by 6.0% in the 4th quarter. Rhumbline Advisers now owns 49,374 shares of the company's stock worth $545,000 after purchasing an additional 2,787 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Stoke Therapeutics by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 93,195 shares of the company's stock worth $1,028,000 after purchasing an additional 1,330 shares in the last quarter.

Stoke Therapeutics Trading Down 0.4%

The firm has a market capitalization of $525.44 million, a price-to-earnings ratio of -4.57 and a beta of 1.20. The company has a fifty day moving average price of $8.06 and a 200-day moving average price of $10.03.

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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