Stoke Therapeutics (NASDAQ:STOK) Stock Price Down 5.1% - Here's Why

Key Points

• Stoke Therapeutics' share price fell by 5.1% to $22.31, marking a decline in trading volume by 46% compared to its average session volume.
• Multiple research analysts have set new price targets for Stoke, with estimates ranging from $22.00 to $30.00, indicating a generally optimistic outlook despite recent stock declines.
• The company reported a quarterly loss of ($0.40) EPS, surpassing analyst expectations, but revenues were significantly below the consensus estimate at $13.82 million.

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) traded down 5.1% during trading on Friday . The company traded as low as $22.26 and last traded at $22.31. 442,083 shares were traded during mid-day trading, a decline of 46% from the average session volume of 814,490 shares. The stock had previously closed at $23.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Stoke Therapeutics in a research note on Friday, July 18th. They issued a "buy" rating and a $30.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price target on shares of Stoke Therapeutics in a research note on Tuesday, July 1st. Chardan Capital reaffirmed a "buy" rating and set a $24.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, August 13th. BTIG Research set a $28.00 price target on shares of Stoke Therapeutics and gave the stock a "buy" rating in a research note on Monday, August 18th. Finally, Wedbush lifted their price target on shares of Stoke Therapeutics from $16.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $25.57.

Stoke Therapeutics Stock Performance

The company's fifty day moving average price is $17.38 and its 200 day moving average price is $12.21. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 26.88 and a beta of 1.14.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last posted its 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. The firm had revenue of $13.82 million during the quarter, compared to analyst estimates of $31.51 million. Stoke Therapeutics had a net margin of 26.25% and a return on equity of 18.32%. As a group, sell-side analysts expect that Stoke Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Insider Buying and Selling at Stoke Therapeutics

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 14,922 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $20.14, for a total transaction of $300,529.08. Following the completion of the transaction, the general counsel directly owned 18,176 shares of the company's stock, valued at $366,064.64. The trade was a 45.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Barry Ticho sold 5,501 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $19.87, for a total transaction of $109,304.87. Following the transaction, the insider directly owned 18,469 shares of the company's stock, valued at $366,979.03. The trade was a 22.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,719 shares of company stock valued at $2,063,359 in the last ninety days. Company insiders own 9.50% of the company's stock.

Institutional Trading of Stoke Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. raised its holdings in shares of 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 purchasing an additional 5,427 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Stoke Therapeutics by 461.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company's stock valued at $50,000 after acquiring an additional 3,591 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Stoke Therapeutics during the second quarter valued at approximately $7,489,000. Opaleye Management Inc. raised its holdings in shares of Stoke Therapeutics by 87.4% during the second quarter. Opaleye Management Inc. now owns 562,120 shares of the company's stock valued at $6,380,000 after acquiring an additional 262,120 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Stoke Therapeutics during the second quarter valued at approximately $156,000.

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.