Stoke Therapeutics (NASDAQ:STOK) Shares Gap Down – Should You Sell?

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $11.02, but opened at $9.82. Stoke Therapeutics shares last traded at $9.69, with a volume of 448,132 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday. Leerink Partnrs upgraded shares of Stoke Therapeutics to a “strong-buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Stoke Therapeutics in a research report on Tuesday, December 10th. Leerink Partners assumed coverage on shares of Stoke Therapeutics in a research note on Monday, October 14th. They set an “outperform” rating and a $18.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Stoke Therapeutics in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $21.29.

Stoke Therapeutics Stock Down 3.8 %

The firm’s fifty day moving average is $12.05 and its 200-day moving average is $13.11. The stock has a market capitalization of $474.58 million, a PE ratio of -4.27 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.05. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. The business had revenue of $4.89 million during the quarter, compared to analysts’ expectations of $3.46 million. On average, analysts expect that Stoke Therapeutics, Inc. will post -2.03 EPS for the current year.

Insiders Place Their Bets

In related news, insider Barry Ticho sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $12.07, for a total value of $120,700.00. Following the completion of the sale, the insider now owns 51,277 shares in the company, valued at $618,913.39. This trade represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jonathan Allan sold 9,696 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $12.78, for a total transaction of $123,914.88. Following the transaction, the general counsel now owns 35,142 shares in the company, valued at $449,114.76. The trade was a 21.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,849 shares of company stock worth $809,421. Corporate insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Stoke Therapeutics by 28.9% in the second quarter. Bank of New York Mellon Corp now owns 115,892 shares of the company’s stock valued at $1,566,000 after buying an additional 25,988 shares in the last quarter. Rhumbline Advisers raised its position in Stoke Therapeutics by 14.3% during the second quarter. Rhumbline Advisers now owns 47,860 shares of the company’s stock worth $647,000 after acquiring an additional 5,990 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Stoke Therapeutics by 7.2% during the second quarter. Los Angeles Capital Management LLC now owns 66,765 shares of the company’s stock worth $902,000 after acquiring an additional 4,508 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Stoke Therapeutics in the second quarter valued at about $29,000. Finally, American Century Companies Inc. grew its position in shares of Stoke Therapeutics by 99.4% in the second quarter. American Century Companies Inc. now owns 59,149 shares of the company’s stock valued at $799,000 after purchasing an additional 29,489 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.