Stoke Therapeutics (NASDAQ:STOK) Stock Price Down 5% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price fell 5% on Wednesday . The company traded as low as $11.35 and last traded at $11.50. 82,661 shares were traded during mid-day trading, a decline of 89% from the average session volume of 739,745 shares. The stock had previously closed at $12.10.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STOK. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. Leerink Partnrs raised shares of Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Finally, Leerink Partners started coverage on shares of Stoke Therapeutics in a research report on Monday, October 14th. They issued an “outperform” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Stoke Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $20.83.

Stoke Therapeutics Trading Down 2.6 %

The stock has a 50 day simple moving average of $12.51 and a 200-day simple moving average of $13.61. The firm has a market cap of $623.95 million, a P/E ratio of -5.61 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $3.46 million. As a group, equities analysts forecast that Stoke Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Activity at Stoke Therapeutics

In related news, insider Barry Ticho sold 2,586 shares of Stoke Therapeutics stock in a transaction on 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 directly owns 44,746 shares in the company, valued at $581,250.54. This trade represents a 5.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Skorpios Trust sold 1,937,500 shares of Stoke Therapeutics stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the completion of the sale, the insider now directly owns 8,906,181 shares in the company, valued at approximately $125,131,843.05. The trade was a 17.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,000,349 shares of company stock worth $28,031,296 over the last three months. Company insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of STOK. Quest Partners LLC purchased a new stake in shares of Stoke Therapeutics during the second quarter worth about $29,000. Nisa Investment Advisors LLC increased its stake in Stoke Therapeutics by 53.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock valued at $40,000 after purchasing an additional 1,038 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Stoke Therapeutics in the second quarter valued at approximately $123,000. Intech Investment Management LLC acquired a new stake in shares of Stoke Therapeutics in the third quarter valued at approximately $160,000. Finally, The Manufacturers Life Insurance Company boosted 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 purchasing an additional 1,994 shares in 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.