Canaccord Genuity Group Lowers Stoke Therapeutics (NASDAQ:STOK) Price Target to $20.00

Stoke Therapeutics (NASDAQ:STOK) had its price target lowered by analysts at Canaccord Genuity Group from $21.00 to $20.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 72.41% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Stoke Therapeutics in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on Stoke Therapeutics from $6.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Stoke Therapeutics in a research note on Monday. TD Cowen upgraded shares of Stoke Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Stoke Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.57.

Stoke Therapeutics Trading Down 2.8 %

Stoke Therapeutics stock opened at $11.60 on Tuesday. The firm has a market cap of $604.59 million, a PE ratio of -4.89 and a beta of 0.82. Stoke Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.40. The stock’s 50 day simple moving average is $10.23 and its two-hundred day simple moving average is $6.68.

Stoke Therapeutics (NASDAQ:STOK) last announced its quarterly earnings results on Monday, March 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.02. The firm had revenue of $2.80 million for the quarter, compared to analysts’ expectations of $3.70 million. On average, equities research analysts forecast that Stoke Therapeutics will post -2.28 EPS for the current year.

Insider Buying and Selling

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 3,600,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total value of $41,760,000.00. Following the completion of the sale, the insider now owns 10,843,681 shares in the company, valued at approximately $125,786,699.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 3,600,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $11.60, for a total value of $41,760,000.00. Following the completion of the sale, the insider now directly owns 10,843,681 shares of the company’s stock, valued at approximately $125,786,699.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jonathan Allan sold 5,126 shares of Stoke Therapeutics stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $13.20, for a total transaction of $67,663.20. Following the transaction, the general counsel now directly owns 2,598 shares in the company, valued at $34,293.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,622,741 shares of company stock worth $41,935,115. 11.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Chase Investment Counsel Corp purchased a new position in shares of Stoke Therapeutics during the 1st quarter worth approximately $279,000. BNP Paribas Financial Markets raised its holdings in shares of Stoke Therapeutics by 86.2% in the 1st quarter. BNP Paribas Financial Markets now owns 14,330 shares of the company’s stock valued at $193,000 after purchasing an additional 6,636 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Stoke Therapeutics during the 1st quarter worth $1,224,000. Seven Grand Managers LLC acquired a new position in shares of Stoke Therapeutics during the first quarter worth $405,000. Finally, Birchview Capital LP increased its holdings in Stoke Therapeutics by 147.1% in the fourth quarter. Birchview Capital LP now owns 210,000 shares of the company’s stock valued at $1,105,000 after buying an additional 125,000 shares during 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.