Stoke Therapeutics (NASDAQ:STOK) Stock Price Down 4.1% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price was down 4.1% during mid-day trading on Tuesday . The stock traded as low as $12.56 and last traded at $12.56. Approximately 42,943 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 762,696 shares. The stock had previously closed at $13.10.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on STOK shares. Leerink Partners started coverage on Stoke Therapeutics in a research report on Monday, October 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Leerink Partnrs upgraded Stoke Therapeutics to a “strong-buy” rating in a research report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Stoke Therapeutics in a research report on Thursday, August 8th. Wedbush restated an “outperform” rating and issued a $17.00 price target on shares of Stoke Therapeutics in a research report on Thursday, July 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, September 11th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.83.

Stoke Therapeutics Stock Performance

The company has a 50 day moving average of $13.26 and a 200 day moving average of $13.70.

Stoke Therapeutics (NASDAQ:STOK) last released its earnings results on Wednesday, August 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.11. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. The business had revenue of $4.83 million for the quarter, compared to the consensus estimate of $3.33 million. Analysts expect that Stoke Therapeutics, Inc. will post -2.1 earnings per share for the current fiscal year.

Insider Activity

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 1,937,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the transaction, the insider now owns 8,906,181 shares of the company’s stock, valued at $125,131,843.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Several large investors have recently modified their holdings of STOK. Quest Partners LLC acquired a new position in Stoke Therapeutics in the 2nd quarter valued at about $29,000. Nisa Investment Advisors LLC grew its position in shares of Stoke Therapeutics by 53.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock valued at $40,000 after purchasing an additional 1,038 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Stoke Therapeutics during the second quarter worth approximately $123,000. State Board of Administration of Florida Retirement System acquired a new stake in Stoke Therapeutics during the 1st quarter worth approximately $141,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Stoke Therapeutics by 16.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after purchasing an additional 1,994 shares during the period.

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.