Insider Selling: Stoke Therapeutics (NASDAQ:STOK) Director Sells $402,521.01 in Stock

Stoke Therapeutics, Inc. (NASDAQ:STOK) Director Edward Md Kaye sold 12,567 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total transaction of $402,521.01. Following the completion of the sale, the director directly owned 124,557 shares in the company, valued at approximately $3,989,560.71. This represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stoke Therapeutics Stock Down 4.9%

Shares of NASDAQ:STOK opened at $31.40 on Friday. The firm has a market cap of $2.03 billion, a P/E ratio of -9.40 and a beta of 1.20. Stoke Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $40.22. The business has a fifty day simple moving average of $30.94 and a 200 day simple moving average of $32.23.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.13). The company had revenue of $9.32 million during the quarter, compared to the consensus estimate of $4.89 million. Stoke Therapeutics had a negative net margin of 753.60% and a negative return on equity of 59.36%. As a group, equities research analysts expect that Stoke Therapeutics, Inc. will post -3.5 EPS for the current year.

Hedge Funds Weigh In On Stoke Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in shares of Stoke Therapeutics in the 4th quarter valued at $26,000. Quantbot Technologies LP bought a new position in Stoke Therapeutics during the second quarter worth $34,000. KBC Group NV bought a new position in Stoke Therapeutics during the first quarter worth $36,000. Harbour Investments Inc. grew its holdings 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 period. Finally, BNP Paribas Financial Markets grew its holdings in Stoke Therapeutics by 66.2% in the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock worth $48,000 after purchasing an additional 1,668 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have weighed in on STOK shares. The Goldman Sachs Group initiated coverage on shares of Stoke Therapeutics in a research report on Monday, July 13th. They set a “buy” rating and a $44.00 target price for the company. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. BTIG Research reiterated a “buy” rating and set a $39.00 price objective on shares of Stoke Therapeutics in a research report on Monday, May 11th. Canaccord Genuity Group lowered their target price on shares of Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Finally, Chardan Capital restated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Stoke Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.