Stoke Therapeutics (NASDAQ:STOK) Given “Buy” Rating at Needham & Company LLC

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 125.85% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, January 8th. Chardan Capital initiated coverage on Stoke Therapeutics in a research report on Friday, December 20th. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Stoke Therapeutics presently has an average rating of “Buy” and an average target price of $23.00.

Stoke Therapeutics Stock Down 8.8 %

Shares of NASDAQ:STOK traded down $0.94 during trading on Tuesday, hitting $9.74. 1,405,755 shares of the company traded hands, compared to its average volume of 839,443. Stoke Therapeutics has a one year low of $5.14 and a one year high of $17.58. The business’s fifty day moving average is $10.84 and its 200-day moving average is $12.40. The stock has a market capitalization of $515.98 million, a price-to-earnings ratio of -4.64 and a beta of 0.95.

Insider Activity

In related news, insider Barry Ticho sold 2,586 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $12.99, for a total transaction of $33,592.14. Following the completion of the sale, the insider now directly owns 44,746 shares in the company, valued at approximately $581,250.54. This trade represents a 5.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward M. Md Kaye sold 6,170 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $12.78, for a total value of $78,852.60. Following the completion of the transaction, the chief executive officer now directly owns 68,671 shares in the company, valued at $877,615.38. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,849 shares of company stock worth $809,421 over the last 90 days. 11.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of STOK. Mesirow Financial Investment Management Inc. purchased a new stake in Stoke Therapeutics during the third quarter valued at about $192,000. Los Angeles Capital Management LLC raised its holdings in shares of Stoke Therapeutics by 54.3% during the third quarter. Los Angeles Capital Management LLC now owns 103,005 shares of the company’s stock valued at $1,266,000 after acquiring an additional 36,240 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Stoke Therapeutics in the 3rd quarter valued at approximately $160,000. Charles Schwab Investment Management Inc. boosted its stake in Stoke Therapeutics by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 316,134 shares of the company’s stock worth $3,885,000 after purchasing an additional 26,870 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Stoke Therapeutics by 1,589.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 76,154 shares of the company’s stock worth $936,000 after purchasing an additional 71,647 shares in 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.