Stoke Therapeutics (NASDAQ:STOK) Stock Price Up 10.2% – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares shot up 10.2% during trading on Thursday . The company traded as high as $33.65 and last traded at $34.1320. 863,075 shares were traded during trading, an increase of 24% from the average session volume of 695,549 shares. The stock had previously closed at $30.98.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Stoke Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. BTIG Research reaffirmed a “buy” rating and issued a $39.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, November 5th. Loop Capital set a $35.00 price objective on shares of Stoke Therapeutics in a research note on Monday, January 5th. Chardan Capital lifted their price target on shares of Stoke Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a report on Monday, January 5th. Finally, UBS Group set a $50.00 target price on Stoke Therapeutics in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.18.

Stoke Therapeutics Trading Up 10.8%

The business’s 50 day simple moving average is $31.54 and its two-hundred day simple moving average is $27.33. The firm has a market capitalization of $1.96 billion, a PE ratio of 51.10 and a beta of 1.10.

Insider Transactions at Stoke Therapeutics

In related news, insider Barry Ticho sold 3,662 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $31.34, for a total value of $114,767.08. Following the transaction, the insider owned 19,798 shares of the company’s stock, valued at approximately $620,469.32. This trade represents a 15.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward M. Md Kaye sold 13,430 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $32.27, for a total transaction of $433,386.10. Following the sale, the director directly owned 49,124 shares of the company’s stock, valued at approximately $1,585,231.48. This represents a 21.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,302 shares of company stock worth $1,826,430 in the last quarter. Company insiders own 9.50% of the company’s stock.

Institutional Trading of Stoke Therapeutics

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Stoke Therapeutics by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,167 shares of the company’s stock worth $162,000 after buying an additional 1,149 shares during the period. Goldman Sachs Group Inc. raised its stake in Stoke Therapeutics by 21.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock worth $11,053,000 after acquiring an additional 293,072 shares during the period. Jane Street Group LLC lifted its holdings in Stoke Therapeutics by 125.2% during the first quarter. Jane Street Group LLC now owns 26,978 shares of the company’s stock valued at $179,000 after purchasing an additional 15,001 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Stoke Therapeutics by 131.6% during the second quarter. KLP Kapitalforvaltning AS now owns 13,200 shares of the company’s stock valued at $150,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Stoke Therapeutics in the second quarter worth approximately $402,000.

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.