The Manufacturers Life Insurance Company Acquires New Shares in Stoke Therapeutics, Inc. $STOK

The Manufacturers Life Insurance Company acquired a new position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) during the second quarter, Holdings Channel.com reports. The fund acquired 66,160 shares of the company’s stock, valued at approximately $2,165,000.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Stoke Therapeutics during the 2nd quarter valued at about $192,307,000. Janus Henderson Group PLC increased its position in shares of Stoke Therapeutics by 333.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,450,933 shares of the company’s stock valued at $46,031,000 after buying an additional 1,116,452 shares during the period. State Street Corp lifted its holdings in shares of Stoke Therapeutics by 75.2% in the fourth quarter. State Street Corp now owns 2,498,049 shares of the company’s stock worth $79,288,000 after buying an additional 1,072,176 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Stoke Therapeutics in the second quarter worth about $7,489,000. Finally, Troluce Capital Advisors LLC purchased a new stake in shares of Stoke Therapeutics in the first quarter worth about $21,255,000.

Insider Transactions at Stoke Therapeutics

In other news, General Counsel Jonathan Allan sold 2,861 shares of the firm’s stock in a transaction 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 sale, the general counsel owned 21,225 shares in the company, valued at approximately $679,836.75. This trade represents a 11.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 on Tuesday, August 18th. The stock was sold at an average price of $32.03, for a total transaction of $402,521.01. Following the sale, the director directly owned 124,557 shares of the company’s stock, valued at $3,989,560.71. This represents 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. Insiders have sold 28,828 shares of company stock valued at $898,874 in the last quarter. Insiders own 9.60% of the company’s stock.

Stoke Therapeutics Trading Down 1.3%

Shares of NASDAQ STOK opened at $30.50 on Thursday. The business has a 50-day moving average of $31.23 and a 200-day moving average of $32.23. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -9.13 and a beta of 1.23. Stoke Therapeutics, Inc. has a 12 month low of $18.80 and a 12 month high of $40.22.

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). Stoke Therapeutics had a negative net margin of 753.60% and a negative return on equity of 59.36%. The company had revenue of $9.32 million during the quarter, compared to analysts’ expectations of $4.89 million. On average, analysts predict that Stoke Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Analysts Set New Price Targets

STOK has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their price objective on shares of Stoke Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. The Goldman Sachs Group initiated coverage on shares of Stoke Therapeutics in a research note on Monday, July 13th. They issued a “buy” rating and a $44.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Stoke Therapeutics in a report on Friday, August 21st. They issued an “overweight” rating and a $40.00 price target for the company. BTIG Research restated a “buy” rating and set a $39.00 price target on shares of Stoke Therapeutics in a research report on Monday, May 11th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of Stoke Therapeutics in a report on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.25.

Stoke Therapeutics Company Profile

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.