Corient Private Wealth LP Makes New $1.01 Million Investment in Stoke Therapeutics, Inc. $STOK

Corient Private Wealth LP acquired a new stake in Stoke Therapeutics, Inc. (NASDAQ:STOK) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 30,838 shares of the company’s stock, valued at approximately $1,009,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kestra Advisory Services LLC purchased a new position in Stoke Therapeutics in the 4th quarter worth $26,000. Quantbot Technologies LP purchased a new stake in Stoke Therapeutics during the second quarter valued at about $34,000. KBC Group NV purchased a new stake in Stoke Therapeutics during the first quarter valued at about $36,000. Harbour Investments Inc. grew its stake in shares of 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 buying an additional 898 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of 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 buying an additional 1,668 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STOK. Chardan Capital reissued a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. Wedbush lifted their price target on Stoke Therapeutics from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Stoke Therapeutics in a research report on Friday, August 7th. BTIG Research reiterated a “buy” rating and set a $39.00 price target on shares of Stoke Therapeutics in a report on Monday, May 11th. Finally, Canaccord Genuity Group dropped their price target on shares of Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Insider Activity

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 2,861 shares of Stoke Therapeutics stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total transaction of $91,637.83. Following the sale, the general counsel directly owned 21,225 shares of the company’s stock, valued at approximately $679,836.75. The trade was a 11.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Edward M. Md Kaye sold 12,567 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total value of $402,521.01. Following the transaction, the director owned 124,557 shares in the company, valued at $3,989,560.71. This trade represents a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 34,373 shares of company stock valued at $1,068,939. Corporate insiders own 9.60% of the company’s stock.

Stoke Therapeutics Stock Down 0.6%

Shares of Stoke Therapeutics stock opened at $29.81 on Friday. The business has a 50 day moving average of $31.17 and a 200 day moving average of $32.20. Stoke Therapeutics, Inc. has a 52 week low of $19.55 and a 52 week high of $40.22. The company has a market cap of $1.92 billion, a PE ratio of -8.93 and a beta of 1.23.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate 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%. On average, research analysts anticipate that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Stoke Therapeutics 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.