Stoke Therapeutics (NASDAQ:STOK) Trading Up 6% – Still a Buy?

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares rose 6% during mid-day trading on Monday . The stock traded as high as $37.62 and last traded at $37.60. Approximately 124,535 shares changed hands during 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

Several analysts recently weighed in on the stock. Wolfe Research began coverage on shares of Stoke Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $40.00 price objective on the stock. Chardan Capital boosted 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. Guggenheim assumed coverage on shares of Stoke Therapeutics in a research note on Thursday, February 5th. They set a “buy” rating and a $60.00 price objective on the stock. Wedbush increased their target price 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. Finally, UBS Group set a $50.00 price target on shares of Stoke Therapeutics in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Stoke Therapeutics Trading Up 5.9%

The company has a market cap of $2.15 billion, a price-to-earnings ratio of 56.06 and a beta of 1.07. The business has a 50-day moving average price of $32.19 and a 200 day moving average price of $29.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in STOK. Invesco Ltd. increased its position in shares of Stoke Therapeutics by 24.7% in the fourth quarter. Invesco Ltd. now owns 259,543 shares of the company’s stock worth $8,238,000 after acquiring an additional 51,468 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Stoke Therapeutics in the 4th quarter valued at approximately $330,000. Tudor Investment Corp ET AL acquired a new position in Stoke Therapeutics in the 4th quarter worth approximately $613,000. Readystate Asset Management LP acquired a new position in Stoke Therapeutics in the 4th quarter worth approximately $922,000. Finally, RTW Investments LP grew its position in Stoke Therapeutics by 8.3% during the 4th quarter. RTW Investments LP now owns 5,546,856 shares of the company’s stock worth $176,057,000 after purchasing an additional 423,331 shares in the last quarter.

Stoke Therapeutics Company Profile

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.