Stoke Therapeutics (NASDAQ:STOK) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Stoke Therapeutics (NASDAQ:STOK) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $40.00 price target on the stock.

A number of other equities analysts have also recently commented on the company. BTIG Research restated a “buy” rating and set a $39.00 target price on shares of Stoke Therapeutics in a report on Monday, May 11th. Chardan Capital reiterated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of Stoke Therapeutics in a research report on Tuesday, August 4th. Canaccord Genuity Group lowered their price objective 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, The Goldman Sachs Group assumed coverage on shares of Stoke Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $44.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Stoke Therapeutics Price Performance

NASDAQ:STOK opened at $32.29 on Friday. Stoke Therapeutics has a 52 week low of $18.00 and a 52 week high of $40.22. The stock’s fifty day moving average is $30.99 and its two-hundred day moving average is $32.24. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -9.67 and a beta of 1.20.

Stoke Therapeutics (NASDAQ:STOK) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.13). The firm had revenue of $9.32 million during the quarter, compared to analyst estimates 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, sell-side analysts expect that Stoke Therapeutics will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling at Stoke Therapeutics

In other news, Director Edward M. Md Kaye sold 12,567 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 124,557 shares of the company’s stock, valued at approximately $3,989,560.71. This represents a 9.16% 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, General Counsel Jonathan Allan sold 2,861 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total value of $91,637.83. Following the completion of the transaction, the general counsel owned 21,225 shares in the company, valued at approximately $679,836.75. The trade was a 11.88% 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. Insiders have sold a total of 30,623 shares of company stock worth $953,765 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Stoke Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP acquired a new position in Stoke Therapeutics in the second quarter valued at approximately $255,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Stoke Therapeutics by 12.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,228 shares of the company’s stock worth $2,134,000 after purchasing an additional 7,043 shares in the last quarter. Wellington Management Group LLP raised its holdings in Stoke Therapeutics by 13.7% during the second quarter. Wellington Management Group LLP now owns 3,519,301 shares of the company’s stock worth $115,152,000 after purchasing an additional 423,601 shares in the last quarter. Palo Alto Investors LP purchased a new stake in shares of Stoke Therapeutics during the 2nd quarter worth approximately $2,769,126,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Stoke Therapeutics during the 2nd quarter worth approximately $314,000.

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.