Stoke Therapeutics (NASDAQ:STOK) Sets New 1-Year High – What’s Next?

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $38.95 and last traded at $38.71, with a volume of 256364 shares changing hands. The stock had previously closed at $36.41.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim started coverage on shares of Stoke Therapeutics in a research note on Thursday, February 5th. They issued a “buy” rating and a $60.00 price target for the company. Wedbush upped their price objective on shares of Stoke Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, January 12th. JPMorgan Chase & Co. lifted their target price on shares of Stoke Therapeutics from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Loop Capital set a $35.00 price target on Stoke Therapeutics in a research report on Monday, January 5th. Finally, HC Wainwright increased their target price on Stoke Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Stoke Therapeutics Trading Up 1.0%

The firm has a fifty day moving average of $31.92 and a 200 day moving average of $28.50. The company has a market capitalization of $2.10 billion, a P/E ratio of 54.89 and a beta of 1.10.

Insider Buying and Selling

In related news, General Counsel Jonathan Allan sold 3,978 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $32.28, for a total value of $128,409.84. Following the transaction, the general counsel owned 11,831 shares of the company’s stock, valued at approximately $381,904.68. This trade represents a 25.16% 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 sold 58,302 shares of company stock valued at $1,826,430 over the last 90 days. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

A number of institutional investors have recently bought and sold shares of STOK. RTW Investments LP increased its position in Stoke Therapeutics by 8.3% in the fourth quarter. RTW Investments LP now owns 5,546,856 shares of the company’s stock worth $176,057,000 after buying an additional 423,331 shares in the last quarter. Morgan Stanley increased its holdings in Stoke Therapeutics by 0.3% in the 4th quarter. Morgan Stanley now owns 3,546,158 shares of the company’s stock worth $112,555,000 after acquiring an additional 9,108 shares in the last quarter. Vanguard Group Inc. raised its stake in Stoke Therapeutics by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,163,874 shares of the company’s stock worth $74,351,000 after acquiring an additional 217,616 shares during the period. State Street Corp lifted its holdings in Stoke Therapeutics by 75.2% during the fourth quarter. State Street Corp now owns 2,498,049 shares of the company’s stock valued at $79,288,000 after purchasing an additional 1,072,176 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Stoke Therapeutics by 7.9% in the second quarter. Marshall Wace LLP now owns 2,300,554 shares of the company’s stock worth $26,111,000 after purchasing an additional 168,771 shares during the period.

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.