BlackRock Inc. Acquires Shares of 5,877,357 Stoke Therapeutics, Inc. $STOK

BlackRock Inc. bought a new position in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 5,877,357 shares of the company’s stock, valued at approximately $192,307,000. BlackRock Inc. owned 0.09% of Stoke Therapeutics at the end of the most recent quarter.

A number of other large investors have also modified their holdings of STOK. Kestra Advisory Services LLC acquired a new position in Stoke Therapeutics during the fourth quarter worth about $26,000. KBC Group NV purchased a new stake in Stoke Therapeutics during the 1st quarter valued at about $36,000. Harbour Investments Inc. raised its holdings in Stoke Therapeutics by 312.9% in the 4th quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock valued at $38,000 after acquiring an additional 898 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Stoke Therapeutics by 66.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock valued at $48,000 after acquiring an additional 1,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Stoke Therapeutics by 461.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock worth $50,000 after purchasing an additional 3,591 shares in the last quarter.

Analyst Ratings Changes

STOK has been the subject of several analyst reports. Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Stoke Therapeutics in a report on Tuesday, August 4th. JPMorgan Chase & Co. started coverage on shares of Stoke Therapeutics in a research report on Friday, August 21st. They set an “overweight” rating and a $40.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Stoke Therapeutics in a report on Monday, July 13th. They issued a “buy” rating and a $44.00 price objective for the company. BTIG Research restated a “buy” rating and set a $39.00 price objective on shares of Stoke Therapeutics in a research report on Monday, May 11th. Finally, Wedbush lifted their target price on shares of Stoke Therapeutics from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Stoke Therapeutics Stock Performance

Shares of STOK stock opened at $32.59 on Friday. The firm’s 50 day moving average price is $31.21 and its 200-day moving average price is $32.26. Stoke Therapeutics, Inc. has a one year low of $18.80 and a one year high of $40.22. The firm has a market cap of $2.10 billion, a P/E ratio of -9.76 and a beta of 1.20.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings data 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 company had revenue of $9.32 million for the quarter, compared to analysts’ expectations of $4.89 million. Stoke Therapeutics had a negative return on equity of 59.36% and a negative net margin of 753.60%. As a group, research analysts predict that Stoke Therapeutics, Inc. will post -3.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Barry Ticho sold 7,176 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $29.04, for a total transaction of $208,391.04. Following the completion of the transaction, the insider directly owned 20,422 shares in the company, valued at $593,054.88. This trade represents a 26.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 2,861 shares of Stoke Therapeutics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $32.03, for a total value of $91,637.83. Following the completion of the sale, the general counsel directly owned 21,225 shares of the company’s stock, valued at $679,836.75. The trade was a 11.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 30,623 shares of company stock worth $953,765 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.

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.