Stoke Therapeutics (NASDAQ:STOK) Earns “Buy” Rating from Chardan Capital

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a report released on Wednesday,Benzinga reports. They presently have a $35.00 price target on the stock. Chardan Capital’s target price points to a potential upside of 6.48% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group boosted their price objective on shares of Stoke Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, January 5th. UBS Group set a $50.00 price target on shares of Stoke Therapeutics in a research note on Monday, December 15th. Needham & Company LLC upped their price target on shares of Stoke Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Loop Capital set a $35.00 price objective on shares of Stoke Therapeutics in a research report on Monday, January 5th. Finally, Wolfe Research started coverage on shares of Stoke Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Stoke Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $39.83.

Stoke Therapeutics Stock Performance

Shares of Stoke Therapeutics stock opened at $32.87 on Wednesday. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 49.06 and a beta of 1.07. The stock has a 50 day moving average price of $32.69 and a 200-day moving average price of $29.89. Stoke Therapeutics has a one year low of $5.35 and a one year high of $40.22.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22). The company had revenue of $1.40 million for the quarter, compared to analysts’ expectations of $5.32 million. Stoke Therapeutics had a net margin of 19.73% and a return on equity of 13.28%. Sell-side analysts predict that Stoke Therapeutics will post -2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Adrian R. Krainer sold 33,243 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $39.74, for a total value of $1,321,076.82. Following the transaction, the director directly owned 283,302 shares in the company, valued at approximately $11,258,421.48. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Arthur Tzianabos sold 4,355 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $40.00, for a total transaction of $174,200.00. Following the completion of the transaction, the insider directly owned 31,339 shares in the company, valued at $1,253,560. This represents a 12.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 38,203 shares of company stock valued at $1,517,541 over the last three months. Insiders own 9.50% of the company’s stock.

Institutional Trading of Stoke Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Stoke Therapeutics by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,167 shares of the company’s stock valued at $162,000 after purchasing an additional 1,149 shares during the period. Goldman Sachs Group Inc. increased its holdings in Stoke Therapeutics by 21.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock worth $11,053,000 after purchasing an additional 293,072 shares during the period. Jane Street Group LLC increased its holdings in Stoke Therapeutics by 125.2% during the 1st quarter. Jane Street Group LLC now owns 26,978 shares of the company’s stock worth $179,000 after purchasing an additional 15,001 shares during the period. Geode Capital Management LLC raised its position in Stoke Therapeutics by 7.9% during the 2nd quarter. Geode Capital Management LLC now owns 972,921 shares of the company’s stock valued at $11,044,000 after purchasing an additional 70,935 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Stoke Therapeutics by 33.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,558 shares of the company’s stock worth $108,000 after buying an additional 2,384 shares during the period.

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.