Stoke Therapeutics (NASDAQ:STOK) Stock Falls 7.1% – Here’s What Happened

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price traded down 7.1% during trading on Tuesday. The company traded as low as $22.41 and last traded at $22.4290. Approximately 210,817 shares were traded during trading, a decline of 73% from the average session volume of 782,184 shares. The stock had previously closed at $24.15.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wedbush upped their price objective on Stoke Therapeutics from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group cut their price objective on Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Chardan Capital reiterated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research note on Tuesday, August 4th. Guggenheim reissued a “buy” rating and set a $60.00 target price on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Stoke Therapeutics in a research note on Thursday, September 10th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

Stoke Therapeutics Price Performance

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -7.24 and a beta of 1.26. The company’s 50-day simple moving average is $28.96 and its 200-day simple moving average is $30.65.

Stoke Therapeutics (NASDAQ:STOK) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $4.89 million. Stoke Therapeutics had a negative return on equity of 59.36% and a negative net margin of 753.60%. Research analysts expect that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Jonathan Allan sold 2,861 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total transaction of $91,637.83. Following the transaction, the general counsel directly owned 21,225 shares of the company’s stock, valued at approximately $679,836.75. This trade represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Stoke Therapeutics stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total transaction of $402,521.01. Following the completion of the sale, the director owned 124,557 shares of the company’s stock, valued at approximately $3,989,560.71. The trade was a 9.16% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 34,594 shares of company stock valued at $1,069,305. 9.60% of the stock is owned by company insiders.

Institutional Trading of Stoke Therapeutics

A number of institutional investors have recently modified their holdings of STOK. Bank of America Corp DE acquired a new position in Stoke Therapeutics during the second quarter worth about $8,498,000. Legal & General Group Plc bought a new stake in shares of Stoke Therapeutics during the 2nd quarter valued at approximately $1,168,000. Dimensional Fund Advisors LP grew its holdings in shares of Stoke Therapeutics by 19.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 989,936 shares of the company’s stock valued at $32,229,000 after purchasing an additional 162,797 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Stoke Therapeutics by 11.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,612,781 shares of the company’s stock valued at $52,456,000 after purchasing an additional 161,848 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Stoke Therapeutics during the 2nd quarter worth approximately $959,000.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc is a biotechnology company developing genetic medicines for severe diseases caused by inadequate protein expression. The company’s approach, known as TANGO (Targeted Augmentation of Nuclear Gene Output), uses antisense oligonucleotides to selectively modulate pre-messenger RNA splicing and increase production of functional proteins from disease-associated genes.

Stoke’s lead program is zorevunersen (STK-001), an investigational antisense oligonucleotide designed to increase functional NaV1.1 protein expression in people with Dravet syndrome, a severe genetic epilepsy caused primarily by mutations in the SCN1A gene.