Stoke Therapeutics (NASDAQ:STOK) Price Target Cut to $20.00 by Analysts at Canaccord Genuity Group

Stoke Therapeutics (NASDAQ:STOK) had its price objective cut by Canaccord Genuity Group from $21.00 to $20.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. TD Cowen raised Stoke Therapeutics from a market perform rating to an outperform rating in a report on Tuesday, March 26th. Cantor Fitzgerald reiterated an overweight rating on shares of Stoke Therapeutics in a report on Thursday, April 4th. Needham & Company LLC reissued a buy rating and set a $22.00 price objective on shares of Stoke Therapeutics in a report on Monday. Wedbush increased their target price on shares of Stoke Therapeutics from $13.00 to $17.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. boosted their price target on Stoke Therapeutics from $6.00 to $13.00 and gave the stock a neutral rating in a research note 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $20.57.

Stoke Therapeutics Stock Performance

Shares of STOK opened at $11.94 on Tuesday. Stoke Therapeutics has a 1 year low of $3.35 and a 1 year high of $16.40. The stock has a market capitalization of $622.31 million, a P/E ratio of -5.04 and a beta of 0.82. The company’s fifty day moving average is $10.23 and its two-hundred day moving average is $6.68.

Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings data on Monday, March 25th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts predict that Stoke Therapeutics will post -2.28 EPS for the current year.

Insider Buying and Selling at Stoke Therapeutics

In other news, CFO Stephen J. Tulipano sold 4,116 shares of the company’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 in the company, valued at $126,550.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Jonathan Allan sold 5,126 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $13.20, for a total transaction of $67,663.20. Following the sale, the general counsel now owns 2,598 shares in the company, valued at $34,293.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen J. Tulipano sold 4,116 shares of the business’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 completion of the transaction, the chief financial officer now owns 20,746 shares of the company’s stock, valued at $126,550.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,622,741 shares of company stock worth $41,935,115. 11.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Lynx1 Capital Management LP purchased a new stake in Stoke Therapeutics in the 3rd quarter valued at about $6,738,000. GSA Capital Partners LLP increased its position in Stoke Therapeutics by 514.7% during the third quarter. GSA Capital Partners LLP now owns 348,069 shares of the company’s stock worth $1,371,000 after purchasing an additional 291,443 shares during the last quarter. Birchview Capital LP boosted its holdings in shares of 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 purchasing an additional 125,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Stoke Therapeutics by 9.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 146,076 shares of the company’s stock worth $576,000 after buying an additional 12,478 shares during the last quarter. Finally, Trexquant Investment LP raised its position in shares of Stoke Therapeutics by 166.9% in the 3rd quarter. Trexquant Investment LP now owns 127,581 shares of the company’s stock worth $503,000 after buying an additional 79,785 shares during the period.

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.