Stoke Therapeutics (NASDAQ:STOK) Sees Unusually-High Trading Volume – What’s Next?

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares saw unusually-strong trading volume on Tuesday . Approximately 2,540,845 shares changed hands during mid-day trading, an increase of 252% from the previous session’s volume of 722,576 shares.The stock last traded at $32.8930 and had previously closed at $32.39.

Wall Street Analyst Weigh In

A number of research firms have recently commented on STOK. Wedbush upped their price objective on shares of Stoke Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Canaccord Genuity Group boosted their target price on shares of Stoke Therapeutics from $36.00 to $60.00 and gave the company a “buy” rating in a report on Friday, March 20th. Wall Street Zen cut shares of Stoke Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. BTIG Research reiterated a “buy” rating and set a $39.00 price target on shares of Stoke Therapeutics in a report on Monday, May 11th. Finally, Weiss Ratings lowered Stoke Therapeutics from a “hold (c)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.83.

Stoke Therapeutics Trading Down 0.7%

The company has a market cap of $2.02 billion, a price-to-earnings ratio of -11.57 and a beta of 1.17. The firm’s 50-day moving average price is $31.29 and its 200 day moving average price is $32.35.

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

Insider Activity

In other news, insider Barry Ticho sold 1,795 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $30.58, for a total transaction of $54,891.10. Following the transaction, the insider owned 34,826 shares of the company’s stock, valued at $1,064,979.08. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 1,457 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $29.95, for a total value of $43,637.15. Following the completion of the sale, the general counsel directly owned 18,086 shares of the company’s stock, valued at $541,675.70. The trade was a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stoke Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Western Wealth Management LLC bought a new position in shares of Stoke Therapeutics in the 1st quarter worth $55,000. Bank of America Corp DE raised its holdings in Stoke Therapeutics by 163.4% during the first quarter. Bank of America Corp DE now owns 543,095 shares of the company’s stock worth $17,683,000 after buying an additional 336,931 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Stoke Therapeutics by 11.2% during the first quarter. Janus Henderson Group PLC now owns 1,612,781 shares of the company’s stock worth $52,456,000 after buying an additional 161,848 shares during the last quarter. Cim LLC bought a new position in shares of Stoke Therapeutics in the first quarter valued at $463,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Stoke Therapeutics by 195.3% in the first quarter. EverSource Wealth Advisors LLC now owns 1,837 shares of the company’s stock valued at $60,000 after buying an additional 1,215 shares in the last quarter.

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.