Stoke Therapeutics (NASDAQ:STOK) Reaches New 1-Year High – Here’s Why

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $39.88 and last traded at $39.7450, with a volume of 396373 shares changing hands. The stock had previously closed at $38.31.

Analyst Upgrades and Downgrades

STOK has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Stoke Therapeutics in a research note on Monday, December 29th. Chardan Capital raised their target price on shares of Stoke Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Loop Capital set a $35.00 price target on shares of Stoke Therapeutics in a research note on Monday, January 5th. UBS Group set a $50.00 price objective on shares of Stoke Therapeutics in a research report on Monday, December 15th. Finally, Wedbush raised their price objective on shares of Stoke Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. One equities research 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, the stock has an average rating of “Moderate Buy” and an average price target of $39.25.

Stoke Therapeutics Price Performance

The firm has a market capitalization of $2.20 billion, a P/E ratio of 57.52 and a beta of 1.07. The firm has a 50-day moving average price of $32.31 and a two-hundred day moving average price of $29.22.

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in shares of Stoke Therapeutics in the 4th quarter valued at $26,000. Harbour Investments Inc. boosted its position in Stoke Therapeutics by 312.9% during the fourth quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock valued at $38,000 after purchasing an additional 898 shares in the last quarter. Generali Investments Management Co LLC purchased a new position in Stoke Therapeutics in the third quarter valued at about $41,000. BNP Paribas Financial Markets grew its stake in Stoke Therapeutics by 66.2% in the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock valued at $48,000 after purchasing an additional 1,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Stoke Therapeutics by 461.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock worth $50,000 after purchasing an additional 3,591 shares in the last quarter.

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.