Stoke Therapeutics (NASDAQ:STOK) Shares Down 4.4% - Here's What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report)'s share price fell 4.4% during mid-day trading on Monday . The company traded as low as $9.41 and last traded at $9.34. 209,894 shares were traded during mid-day trading, a decline of 71% from the average session volume of 712,493 shares. The stock had previously closed at $9.76.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STOK. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price target on shares of Stoke Therapeutics in a report on Wednesday, April 9th. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, March 19th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $24.00 target price on shares of Stoke Therapeutics in a research note on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Stoke Therapeutics has an average rating of "Buy" and a consensus target price of $24.67.

Stoke Therapeutics Price Performance

The stock has a market capitalization of $538.33 million, a PE ratio of -4.70 and a beta of 1.09. The firm's 50 day simple moving average is $7.84 and its 200 day simple moving average is $10.24.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.38. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. The company had revenue of $22.61 million during the quarter, compared to analyst estimates of $4.20 million. Analysts expect that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Edward M. Md Kaye sold 10,382 shares of the company's stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Barry Ticho sold 3,884 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.67, for a total transaction of $33,674.28. Following the completion of the transaction, the insider now directly owns 63,962 shares of the company's stock, valued at approximately $554,550.54. The trade was a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,532 shares of company stock valued at $143,332. Insiders own 11.30% of the company's stock.

Hedge Funds Weigh In On Stoke Therapeutics

A number of institutional investors have recently bought and sold shares of STOK. Toronto Dominion Bank bought a new position in Stoke Therapeutics in the fourth quarter worth about $35,001,000. RTW Investments LP increased its stake in shares of Stoke Therapeutics by 10.1% during the fourth quarter. RTW Investments LP now owns 5,123,525 shares of the company's stock valued at $56,512,000 after purchasing an additional 471,240 shares in the last quarter. Norges Bank bought a new position in shares of Stoke Therapeutics during the fourth quarter valued at approximately $3,472,000. Tang Capital Management LLC bought a new position in shares of Stoke Therapeutics during the fourth quarter valued at approximately $3,309,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Stoke Therapeutics during the fourth quarter valued at approximately $3,218,000.

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.