Stoke Therapeutics (NASDAQ:STOK) Trading 6% Higher – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares rose 6% during mid-day trading on Monday . The company traded as high as $37.62 and last traded at $37.60. Approximately 124,535 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 720,591 shares. The stock had previously closed at $35.48.

Analysts Set New Price Targets

STOK has been the topic of a number of analyst reports. Wedbush boosted their price objective on shares of Stoke Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, January 12th. Chardan Capital lifted their price target on shares of Stoke Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Stoke Therapeutics in a research report on Monday, December 29th. Wolfe Research initiated coverage on shares of Stoke Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, HC Wainwright boosted their target price on Stoke Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Stoke Therapeutics Trading Up 0.1%

The company’s 50 day moving average is $32.44 and its 200 day moving average is $29.35. The company has a market cap of $2.19 billion, a PE ratio of 57.24 and a beta of 1.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its position in shares of Stoke Therapeutics by 7.9% during the second quarter. Marshall Wace LLP now owns 2,300,554 shares of the company’s stock valued at $26,111,000 after buying an additional 168,771 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Stoke Therapeutics in the 3rd quarter worth approximately $3,539,000. Principal Financial Group Inc. bought a new position in shares of Stoke Therapeutics during the 3rd quarter worth approximately $1,062,000. Aviva PLC purchased a new stake in Stoke Therapeutics during the second quarter valued at approximately $499,000. Finally, Franklin Resources Inc. lifted its position in Stoke Therapeutics by 264.8% during the second quarter. Franklin Resources Inc. now owns 81,395 shares of the company’s stock valued at $924,000 after acquiring an additional 59,081 shares during the last quarter.

About Stoke Therapeutics

Stoke Therapeutics, headquartered in Bedford, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing genetic medicines to upregulate protein production for the treatment of rare neuromuscular and neurological disorders. Founded in 2014, the company applies its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO™) platform to design antisense oligonucleotides that selectively modulate RNA splicing and enhance expression of functional proteins.

The company’s lead program, STK-001, is an antisense oligonucleotide therapy designed to increase production of the sodium channel protein SCN1A and is currently in clinical development for Dravet syndrome, a severe childhood-onset epilepsy.