Candriam S.C.A. Boosts Stake in Stoke Therapeutics, Inc. $STOK

Candriam S.C.A. grew its position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) by 12.4% in the 1st quarter, HoldingsChannel reports. The firm owned 502,020 shares of the company’s stock after acquiring an additional 55,330 shares during the quarter. Candriam S.C.A.’s holdings in Stoke Therapeutics were worth $16,346,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Hsbc Holdings PLC bought a new stake in Stoke Therapeutics in the first quarter worth $686,000. Moran Wealth Management LLC bought a new stake in shares of Stoke Therapeutics in the 1st quarter valued at about $1,320,000. Pictet Asset Management Holding SA bought a new stake in shares of Stoke Therapeutics in the 1st quarter valued at about $247,000. SG Americas Securities LLC boosted its holdings in Stoke Therapeutics by 31.6% during the 1st quarter. SG Americas Securities LLC now owns 33,996 shares of the company’s stock valued at $1,107,000 after acquiring an additional 8,160 shares during the period. Finally, Invesco Ltd. boosted its holdings in Stoke Therapeutics by 24.7% during the 4th quarter. Invesco Ltd. now owns 259,543 shares of the company’s stock valued at $8,238,000 after acquiring an additional 51,468 shares during the period.

Stoke Therapeutics Price Performance

STOK traded down $1.45 during midday trading on Friday, reaching $31.38. 614,856 shares of the company’s stock traded hands, compared to its average volume of 1,031,628. Stoke Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $40.22. The firm has a fifty day moving average of $31.04 and a two-hundred day moving average of $32.35. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -11.17 and a beta of 1.17.

Stoke Therapeutics (NASDAQ:STOK) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.01. The firm had revenue of $6.23 million for the quarter, compared to analyst estimates of $6.48 million. Stoke Therapeutics had a negative return on equity of 48.84% and a negative net margin of 529.20%. Sell-side analysts forecast that Stoke Therapeutics, Inc. will post -3.22 EPS for the current year.

Insider Transactions at Stoke Therapeutics

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 1,457 shares of Stoke Therapeutics stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $29.95, for a total transaction of $43,637.15. Following the sale, the general counsel directly owned 18,086 shares of the company’s stock, valued at approximately $541,675.70. The trade was a 7.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Barry Ticho sold 1,795 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $30.58, for a total value of $54,891.10. Following the transaction, the insider owned 34,826 shares in the company, valued at $1,064,979.08. This trade represents a 4.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STOK has been the topic of a number of analyst reports. Wall Street Zen cut Stoke Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Wedbush raised their target price on shares of Stoke Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Canaccord Genuity Group lifted their target price on shares of Stoke Therapeutics from $36.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Chardan Capital reiterated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a report on Wednesday, March 18th. Finally, Weiss Ratings cut shares of Stoke Therapeutics from a “hold (c)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

About Stoke Therapeutics

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.