Stoke Therapeutics (NASDAQ:STOK) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Stoke Therapeutics (NASDAQ:STOK) announced its quarterly earnings results on Tuesday. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.11), Zacks reports. The company had revenue of $10.63 million for the quarter, compared to the consensus estimate of $6.06 million. Stoke Therapeutics had a net margin of 26.25% and a return on equity of 18.32%.

Stoke Therapeutics Price Performance

Shares of NASDAQ STOK traded down $3.90 during midday trading on Wednesday, reaching $21.44. 657,582 shares of the stock traded hands, compared to its average volume of 898,098. The company’s 50 day moving average is $26.28 and its 200 day moving average is $16.99. Stoke Therapeutics has a one year low of $5.35 and a one year high of $38.69. The stock has a market capitalization of $1.18 billion, a PE ratio of 25.74 and a beta of 1.32.

Insider Transactions at Stoke Therapeutics

In related news, General Counsel Jonathan Allan sold 14,922 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $20.14, for a total transaction of $300,529.08. Following the sale, the general counsel owned 18,176 shares of the company’s stock, valued at $366,064.64. This trade represents a 45.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward M. Md Kaye sold 45,996 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $20.13, for a total value of $925,899.48. Following the sale, the director directly owned 91,585 shares in the company, valued at approximately $1,843,606.05. The trade was a 33.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 180,676 shares of company stock valued at $4,071,664. 9.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Stoke Therapeutics

Institutional investors have recently made changes to their positions in the company. Corient Private Wealth LLC purchased a new stake in Stoke Therapeutics during the 2nd quarter valued at approximately $7,489,000. Goldman Sachs Group Inc. increased its holdings in shares of Stoke Therapeutics by 21.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,662,039 shares of the company’s stock valued at $11,053,000 after buying an additional 293,072 shares in the last quarter. Opaleye Management Inc. increased its holdings in shares of Stoke Therapeutics by 87.4% in the second quarter. Opaleye Management Inc. now owns 562,120 shares of the company’s stock valued at $6,380,000 after buying an additional 262,120 shares in the last quarter. MPM Bioimpact LLC increased its holdings in shares of Stoke Therapeutics by 13.8% in the second quarter. MPM Bioimpact LLC now owns 789,698 shares of the company’s stock valued at $8,963,000 after buying an additional 95,710 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Stoke Therapeutics in the second quarter worth $378,000.

Wall Street Analyst Weigh In

STOK has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Stoke Therapeutics from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday. Needham & Company LLC lifted their price target on Stoke Therapeutics from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Chardan Capital reaffirmed a “buy” rating and issued a $24.00 price target on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Wedbush lifted their price objective on Stoke Therapeutics from $22.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Stoke Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.43.

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.