Stoke Therapeutics (NASDAQ:STOK) Shares Gap Down on Insider Selling

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $13.27, but opened at $12.99. Stoke Therapeutics shares last traded at $12.78, with a volume of 36,211 shares traded.

Specifically, major shareholder Skorpios Trust sold 1,937,500 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $14.05, for a total value of $27,221,875.00. Following the sale, the insider now owns 8,906,181 shares of the company’s stock, valued at $125,131,843.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

STOK has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, September 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Stoke Therapeutics in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.40.

Stoke Therapeutics Stock Down 4.4 %

The business’s 50 day moving average price is $14.48 and its 200-day moving average price is $13.24. The company has a market cap of $660.89 million, a PE ratio of -5.51 and a beta of 0.96.

Stoke Therapeutics (NASDAQ:STOK) last released its earnings results on Wednesday, August 7th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.11. The company had revenue of $4.83 million for the quarter, compared to the consensus estimate of $3.33 million. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. Equities analysts expect that Stoke Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Institutional Trading of Stoke Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Birchview Capital LP increased its position in Stoke Therapeutics by 147.1% in the fourth quarter. Birchview Capital LP now owns 210,000 shares of the company’s stock worth $1,105,000 after buying an additional 125,000 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Stoke Therapeutics in the 1st quarter worth approximately $1,224,000. BNP Paribas Financial Markets lifted its stake in Stoke Therapeutics by 86.2% during the first quarter. BNP Paribas Financial Markets now owns 14,330 shares of the company’s stock valued at $193,000 after purchasing an additional 6,636 shares during the last quarter. Chase Investment Counsel Corp bought a new stake in Stoke Therapeutics during the first quarter worth approximately $279,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Stoke Therapeutics in the first quarter worth approximately $141,000.

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.