Needham & Company LLC Reiterates “Buy” Rating for Stoke Therapeutics (NASDAQ:STOK)

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $22.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 145.54% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. Chardan Capital started coverage on Stoke Therapeutics in a research note on Friday, December 20th. They issued a “buy” rating and a $24.00 price objective for the company. Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Leerink Partners started coverage on Stoke Therapeutics in a report on Monday, October 14th. They issued an “outperform” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Stoke Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $21.29.

Stoke Therapeutics Price Performance

NASDAQ STOK opened at $8.96 on Wednesday. Stoke Therapeutics has a one year low of $4.09 and a one year high of $17.58. The business has a 50 day simple moving average of $11.98 and a 200 day simple moving average of $13.08. The stock has a market capitalization of $474.58 million, a P/E ratio of -4.27 and a beta of 0.95.

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

Insider Buying and Selling at Stoke Therapeutics

In other Stoke Therapeutics news, CEO Edward M. Md Kaye sold 6,170 shares of Stoke Therapeutics stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $12.78, for a total transaction of $78,852.60. Following the transaction, the chief executive officer now owns 68,671 shares of the company’s stock, valued at $877,615.38. This trade represents a 8.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jonathan Allan sold 9,696 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $12.78, for a total value of $123,914.88. Following the completion of the transaction, the general counsel now directly 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. In the last three months, insiders have sold 62,849 shares of company stock worth $809,421. Corporate insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in Stoke Therapeutics by 16.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock worth $189,000 after buying an additional 1,994 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Stoke Therapeutics during the 2nd quarter worth approximately $29,000. Los Angeles Capital Management LLC raised its holdings in shares of 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 stake in Stoke Therapeutics by 14.3% in the second quarter. Rhumbline Advisers now owns 47,860 shares of the company’s stock valued at $647,000 after purchasing an additional 5,990 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Stoke Therapeutics in the third quarter worth $160,000.

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.