Stoke Therapeutics, Inc. (NASDAQ:STOK) Major Shareholder Sells $41,760,000.00 in Stock

Stoke Therapeutics, Inc. (NASDAQ:STOK) major shareholder Skorpios Trust sold 3,600,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total value of $41,760,000.00. Following the completion of the sale, the insider now owns 10,843,681 shares in the company, valued at $125,786,699.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Stoke Therapeutics Price Performance

Shares of NASDAQ:STOK traded down $0.07 during trading on Thursday, reaching $11.65. 1,059,325 shares of the stock were exchanged, compared to its average volume of 971,695. Stoke Therapeutics, Inc. has a 1-year low of $3.35 and a 1-year high of $16.40. The stock has a fifty day moving average of $8.47 and a two-hundred day moving average of $5.89. The firm has a market cap of $539.40 million, a price-to-earnings ratio of -5.01 and a beta of 0.77.

Stoke Therapeutics (NASDAQ:STOK) last issued its earnings results on Monday, March 25th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.02. The firm had revenue of $2.80 million for the quarter, compared to analyst estimates of $3.70 million. Sell-side analysts forecast that Stoke Therapeutics, Inc. will post -2.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STOK. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a report on Thursday, April 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Stoke Therapeutics in a research note on Thursday, April 4th. TD Cowen raised Stoke Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price target on Stoke Therapeutics from $6.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Finally, Canaccord Genuity Group boosted their price target on Stoke Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.63.

Hedge Funds Weigh In On Stoke Therapeutics

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Stoke Therapeutics by 24.3% during the second quarter. BlackRock Inc. now owns 2,293,670 shares of the company’s stock worth $24,382,000 after purchasing an additional 448,175 shares during the period. Vanguard Group Inc. raised its position in Stoke Therapeutics by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,047,904 shares of the company’s stock valued at $26,295,000 after buying an additional 52,871 shares during the last quarter. Lynx1 Capital Management LP purchased a new stake in Stoke Therapeutics in the 3rd quarter valued at $6,738,000. Goldman Sachs Group Inc. raised its position in Stoke Therapeutics by 976.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,391,431 shares of the company’s stock valued at $7,319,000 after buying an additional 1,262,126 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Stoke Therapeutics in the 1st quarter valued at $25,011,000.

About Stoke Therapeutics

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.