Stoke Therapeutics (NASDAQ:STOK) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report sent to investors on Monday morning, Benzinga reports. Needham & Company LLC currently has a $22.00 price objective on the stock.

Several other brokerages have also weighed in on STOK. JPMorgan Chase & Co. increased their price objective on Stoke Therapeutics from $6.00 to $13.00 and gave the stock a neutral rating in a research report on Tuesday, March 26th. Canaccord Genuity Group boosted their price objective on shares of Stoke Therapeutics from $18.00 to $21.00 and gave the company a buy rating in a report on Tuesday, March 26th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Stoke Therapeutics in a research report on Thursday, April 4th. Wedbush lifted their price target on shares of Stoke Therapeutics from $13.00 to $17.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Finally, TD Cowen upgraded shares of Stoke Therapeutics from a market perform rating to an outperform rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $20.57.

Stoke Therapeutics Trading Up 3.5 %

Shares of STOK opened at $12.01 on Monday. Stoke Therapeutics has a 12-month low of $3.35 and a 12-month high of $16.40. The firm has a market capitalization of $625.96 million, a P/E ratio of -4.98 and a beta of 0.82. The firm has a 50-day moving average price of $10.30 and a 200 day moving average price of $6.72.

Stoke Therapeutics (NASDAQ:STOK) last posted its earnings results on Monday, March 25th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.02. The firm had revenue of $2.80 million during the quarter, compared to analyst estimates of $3.70 million. Equities research analysts predict that Stoke Therapeutics will post -2.28 earnings per share for the current fiscal year.

Insider Transactions at Stoke Therapeutics

In related news, CEO Edward M. Md Kaye sold 11,150 shares of Stoke Therapeutics stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.10, for a total value of $68,015.00. Following the completion of the transaction, the chief executive officer now owns 69,350 shares in the company, valued at $423,035. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Edward M. Md Kaye sold 11,150 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total transaction of $68,015.00. Following the sale, the chief executive officer now owns 69,350 shares of the company’s stock, valued at approximately $423,035. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Skorpios Trust sold 3,600,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the completion of the transaction, the insider now owns 10,843,681 shares of the company’s stock, valued at approximately $125,786,699.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,622,741 shares of company stock valued at $41,935,115. 11.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Stoke Therapeutics

Hedge funds have recently made changes to their positions in the company. Lynx1 Capital Management LP purchased a new stake in shares of Stoke Therapeutics during the 3rd quarter worth approximately $6,738,000. GSA Capital Partners LLP boosted its position in shares of Stoke Therapeutics by 514.7% in the 3rd quarter. GSA Capital Partners LLP now owns 348,069 shares of the company’s stock worth $1,371,000 after buying an additional 291,443 shares in the last quarter. Birchview Capital LP grew its stake in Stoke Therapeutics by 147.1% in the 4th quarter. Birchview Capital LP now owns 210,000 shares of the company’s stock valued at $1,105,000 after acquiring an additional 125,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Stoke Therapeutics during the 1st quarter valued at about $1,224,000. Finally, Trexquant Investment LP raised its position in Stoke Therapeutics by 166.9% during the third quarter. Trexquant Investment LP now owns 127,581 shares of the company’s stock worth $503,000 after acquiring an additional 79,785 shares during the last quarter.

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.