Stoke Therapeutics (NASDAQ:STOK) Stock Price Up 6.9% – Should You Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price traded up 6.9% on Friday . The company traded as high as $32.35 and last traded at $32.5070. Approximately 378,671 shares were traded during mid-day trading, a decline of 46% from the average session volume of 700,505 shares. The stock had previously closed at $30.40.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Needham & Company LLC lifted their price target on Stoke Therapeutics from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Weiss Ratings lowered shares of Stoke Therapeutics from a “hold (c)” rating to a “sell (d)” rating in a report on Monday, May 11th. Canaccord Genuity Group raised their target price on shares of Stoke Therapeutics from $36.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. BTIG Research reaffirmed a “buy” rating and set a $39.00 target price on shares of Stoke Therapeutics in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of Stoke Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.83.

Stoke Therapeutics Stock Performance

The firm has a market cap of $1.98 billion, a P/E ratio of -11.31 and a beta of 1.17. The business’s 50-day simple moving average is $31.58 and its 200 day simple moving average is $32.36.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results on Thursday, May 7th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.01. The business had revenue of $6.23 million during the quarter, compared to analysts’ expectations of $6.48 million. Stoke Therapeutics had a negative net margin of 529.20% and a negative return on equity of 48.84%. As a group, equities research analysts expect that Stoke Therapeutics, Inc. will post -3.22 EPS for the current year.

Insiders Place Their Bets

In other Stoke Therapeutics news, insider Barry Ticho sold 1,795 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $30.58, for a total value of $54,891.10. Following the sale, the insider owned 34,826 shares in the company, valued at $1,064,979.08. The trade was a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 1,457 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $29.95, for a total transaction of $43,637.15. Following the transaction, the general counsel directly owned 18,086 shares of the company’s stock, valued at $541,675.70. This trade represents a 7.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors have recently added to or reduced their stakes in STOK. Kestra Advisory Services LLC bought a new stake in Stoke Therapeutics in the 4th quarter worth approximately $26,000. KBC Group NV bought a new stake in Stoke Therapeutics in the first quarter worth $36,000. Harbour Investments Inc. increased its position in Stoke Therapeutics by 312.9% in the fourth quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock worth $38,000 after purchasing an additional 898 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Stoke Therapeutics during the first quarter valued at $55,000. Finally, Generali Investments Management Co LLC purchased a new stake in Stoke Therapeutics during the third quarter valued at $41,000.

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.