HC Wainwright Reiterates “Buy” Rating for Stoke Therapeutics (NASDAQ:STOK)

HC Wainwright reiterated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $35.00 target price on the stock. HC Wainwright also issued estimates for Stoke Therapeutics’ Q1 2024 earnings at ($0.63) EPS, Q2 2024 earnings at ($0.63) EPS, Q3 2024 earnings at ($0.63) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($2.62) EPS, FY2025 earnings at ($3.45) EPS, FY2026 earnings at ($2.59) EPS, FY2027 earnings at ($0.91) EPS and FY2028 earnings at $0.18 EPS.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reissued a buy rating and set a $14.00 target price on shares of Stoke Therapeutics in a research note on Friday, February 16th. TD Cowen raised Stoke Therapeutics from a market perform rating to an outperform rating in a research note on Tuesday. Canaccord Genuity Group boosted their target price on Stoke Therapeutics from $18.00 to $21.00 and gave the company a buy rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on Stoke Therapeutics from $6.00 to $13.00 and gave the company a neutral rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $19.63.

Stoke Therapeutics Stock Performance

STOK opened at $13.50 on Tuesday. Stoke Therapeutics has a 52-week low of $3.35 and a 52-week high of $16.40. The stock has a market capitalization of $625.05 million, a PE ratio of -5.70 and a beta of 0.68. The stock’s 50 day moving average price is $6.24 and its 200-day moving average price is $5.08.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, CFO Stephen J. Tulipano sold 4,116 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total value of $25,107.60. Following the sale, the chief financial officer now directly owns 20,746 shares of the company’s stock, valued at $126,550.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Barry Ticho sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $4.80, for a total transaction of $48,000.00. Following the transaction, the insider now directly owns 6,981 shares of the company’s stock, valued at $33,508.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephen J. Tulipano sold 4,116 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.10, for a total value of $25,107.60. Following the transaction, the chief financial officer now directly owns 20,746 shares in the company, valued at $126,550.60. The disclosure for this sale can be found here. Insiders have sold 37,615 shares of company stock worth $212,852 over the last ninety days. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of Stoke Therapeutics by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 62,698 shares of the company’s stock valued at $1,320,000 after purchasing an additional 837 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Stoke Therapeutics by 10.9% during the second quarter. American International Group Inc. now owns 10,506 shares of the company’s stock valued at $139,000 after purchasing an additional 1,029 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Stoke Therapeutics by 46.7% during the first quarter. Great West Life Assurance Co. Can now owns 3,387 shares of the company’s stock valued at $28,000 after purchasing an additional 1,078 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in shares of Stoke Therapeutics during the first quarter valued at $25,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Stoke Therapeutics during the first quarter valued at $27,000.

Stoke Therapeutics Company Profile

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.