Granahan Investment Management LLC Sells 278,514 Shares of Stoke Therapeutics, Inc. $STOK

Granahan Investment Management LLC cut its stake in Stoke Therapeutics, Inc. (NASDAQ:STOK) by 52.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 253,899 shares of the company’s stock after selling 278,514 shares during the period. Granahan Investment Management LLC owned about 0.44% of Stoke Therapeutics worth $5,967,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Stoke Therapeutics by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,167 shares of the company’s stock valued at $162,000 after buying an additional 1,149 shares during the period. BNP Paribas Financial Markets increased its position in shares of Stoke Therapeutics by 66.2% during the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock worth $48,000 after acquiring an additional 1,668 shares during the period. Generali Investments Management Co LLC purchased a new position in shares of Stoke Therapeutics during the third quarter worth approximately $41,000. The Manufacturers Life Insurance Company raised its stake in shares of Stoke Therapeutics by 14.1% during the second quarter. The Manufacturers Life Insurance Company now owns 15,099 shares of the company’s stock valued at $171,000 after acquiring an additional 1,862 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Stoke Therapeutics by 2.8% during the third quarter. Rhumbline Advisers now owns 68,304 shares of the company’s stock valued at $1,605,000 after acquiring an additional 1,885 shares in the last quarter.

Insider Activity at Stoke Therapeutics

In related news, insider Arthur Tzianabos sold 4,355 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $40.00, for a total transaction of $174,200.00. Following the completion of the transaction, the insider owned 31,339 shares in the company, valued at $1,253,560. The trade was a 12.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adrian R. Krainer sold 33,243 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $39.74, for a total transaction of $1,321,076.82. Following the sale, the director directly owned 283,302 shares of the company’s stock, valued at $11,258,421.48. The trade was a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.50% of the company’s stock.

Stoke Therapeutics Stock Performance

Shares of Stoke Therapeutics stock opened at $33.19 on Monday. The company has a market capitalization of $1.90 billion, a PE ratio of 49.54 and a beta of 1.07. The company has a 50-day simple moving average of $32.71 and a two-hundred day simple moving average of $29.70. Stoke Therapeutics, Inc. has a one year low of $5.35 and a one year high of $40.22.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group set a $50.00 price objective on Stoke Therapeutics in a research note on Monday, December 15th. HC Wainwright raised their price objective on Stoke Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Canaccord Genuity Group lifted their target price on Stoke Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Chardan Capital increased their price target on Stoke Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Loop Capital set a $35.00 price target on Stoke Therapeutics in a research note on Monday, January 5th. One 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

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.