Stoke Therapeutics (NASDAQ:STOK) Stock Price Down 2.9% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price traded down 2.9% during mid-day trading on Tuesday . The company traded as low as $11.10 and last traded at $11.27. 121,581 shares were traded during mid-day trading, a decline of 84% from the average session volume of 749,464 shares. The stock had previously closed at $11.61.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Leerink Partnrs upgraded shares of Stoke Therapeutics to a “strong-buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. Leerink Partners began coverage on Stoke Therapeutics in a research report on Monday, October 14th. They set an “outperform” rating and a $18.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Finally, HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $21.29.

Stoke Therapeutics Stock Performance

The firm has a market capitalization of $599.59 million, a P/E ratio of -5.39 and a beta of 0.95. The company has a 50-day simple moving average of $12.40 and a two-hundred day simple moving average of $13.45.

Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.05. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. The business had revenue of $4.89 million during the quarter, compared to analyst estimates of $3.46 million. As a group, research analysts forecast that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Barry Ticho sold 2,586 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $12.99, for a total value of $33,592.14. Following the transaction, the insider now owns 44,746 shares in the company, valued at $581,250.54. The trade was a 5.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jonathan Allan sold 9,696 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $12.78, for a total transaction of $123,914.88. Following the sale, the general counsel now owns 35,142 shares of the company’s stock, valued at approximately $449,114.76. This represents a 21.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,849 shares of company stock worth $809,421. 11.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its stake in Stoke Therapeutics by 16.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after acquiring an additional 1,994 shares during the period. Quest Partners LLC purchased a new stake in Stoke Therapeutics in the second quarter worth approximately $29,000. Los Angeles Capital Management LLC grew its position in Stoke Therapeutics by 7.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 66,765 shares of the company’s stock worth $902,000 after purchasing an additional 4,508 shares during the period. Rhumbline Advisers lifted its holdings in shares of Stoke Therapeutics by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 47,860 shares of the company’s stock valued at $647,000 after buying an additional 5,990 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Stoke Therapeutics in the 2nd quarter worth $123,000.

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.