Stoke Therapeutics (NASDAQ:STOK) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $22.00 target price on the stock.

STOK has been the subject of several other reports. HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, March 19th. Chardan Capital reaffirmed a “buy” rating and issued a $24.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Stoke Therapeutics presently has a consensus rating of “Buy” and an average target price of $24.67.

Stoke Therapeutics Price Performance

STOK traded down $0.34 during trading on Wednesday, hitting $6.10. 140,508 shares of the stock traded hands, compared to its average volume of 716,827. The firm has a market capitalization of $329.61 million, a P/E ratio of -2.90 and a beta of 1.09. Stoke Therapeutics has a 12-month low of $5.35 and a 12-month high of $17.58. The firm has a 50-day moving average of $8.49 and a 200 day moving average of $10.61.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.38. The business had revenue of $22.61 million during the quarter, compared to analyst estimates of $4.20 million. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. As a group, equities analysts predict that Stoke Therapeutics will post -2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stoke Therapeutics news, insider Barry Ticho sold 3,884 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.67, for a total value of $33,674.28. Following the transaction, the insider now owns 63,962 shares of the company’s stock, valued at approximately $554,550.54. This represents a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward M. Md Kaye sold 10,382 shares of Stoke Therapeutics stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $8.67, for a total transaction of $90,011.94. Following the transaction, the director now owns 148,253 shares in the company, valued at approximately $1,285,353.51. This trade represents a 6.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,532 shares of company stock valued at $143,332. Corporate insiders own 11.30% of the company’s stock.

Institutional Trading of Stoke Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Stoke Therapeutics by 1,842.0% during the 1st quarter. GAMMA Investing LLC now owns 5,360 shares of the company’s stock valued at $36,000 after buying an additional 5,084 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Stoke Therapeutics during the fourth quarter valued at $63,000. Teacher Retirement System of Texas bought a new stake in Stoke Therapeutics in the 4th quarter valued at $113,000. China Universal Asset Management Co. Ltd. purchased a new stake in Stoke Therapeutics in the 4th quarter worth $124,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Stoke Therapeutics by 70.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,930 shares of the company’s stock valued at $132,000 after purchasing an additional 4,918 shares in the last quarter.

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.