Wedbush Reiterates “Outperform” Rating for Stoke Therapeutics (NASDAQ:STOK)

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They presently have a $17.00 target price on the stock. Wedbush’s price objective points to a potential upside of 20.48% from the stock’s previous close.

A number of other research analysts have also commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a research report on Thursday, April 4th. Canaccord Genuity Group cut their price target on Stoke Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. JPMorgan Chase & Co. increased their target price on Stoke Therapeutics from $6.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a report on Tuesday, May 7th. Finally, TD Cowen raised Stoke Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

Stoke Therapeutics Trading Up 6.4 %

Shares of STOK traded up $0.85 during midday trading on Thursday, reaching $14.11. The stock had a trading volume of 50,394 shares, compared to its average volume of 908,795. Stoke Therapeutics has a 12-month low of $3.35 and a 12-month high of $17.58. The company’s 50-day moving average is $14.06 and its 200 day moving average is $9.86. The company has a market capitalization of $735.43 million, a price-to-earnings ratio of -5.85 and a beta of 0.87.

Stoke Therapeutics (NASDAQ:STOK) last released its earnings results on Monday, May 6th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.03. The company had revenue of $4.22 million during the quarter, compared to the consensus estimate of $3.33 million. Research analysts forecast that Stoke Therapeutics will post -2.3 EPS for the current fiscal year.

Insider Activity

In related news, insider Barry Ticho sold 10,000 shares of Stoke Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.75, for a total value of $137,500.00. Following the completion of the transaction, the insider now owns 2,485 shares in the company, valued at $34,168.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Skorpios Trust sold 3,600,000 shares of Stoke Therapeutics stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the completion of the sale, the insider now owns 10,843,681 shares of the company’s stock, valued at $125,786,699.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barry Ticho sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.75, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now directly owns 2,485 shares of the company’s stock, valued at approximately $34,168.75. The disclosure for this sale can be found here. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Large investors have recently bought and sold shares of the business. Birchview Capital LP grew 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 worth $1,105,000 after purchasing an additional 125,000 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Stoke Therapeutics by 30.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 62,257 shares of the company’s stock worth $327,000 after purchasing an additional 14,510 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Stoke Therapeutics during the 3rd quarter worth about $64,000. Redmile Group LLC boosted its stake in shares of Stoke Therapeutics by 93.2% during the 1st quarter. Redmile Group LLC now owns 5,073,049 shares of the company’s stock worth $68,486,000 after acquiring an additional 2,447,543 shares in the last quarter. Finally, Baker BROS. Advisors LP boosted its stake in shares of Stoke Therapeutics by 65.9% during the 1st quarter. Baker BROS. Advisors LP now owns 3,368,443 shares of the company’s stock worth $45,474,000 after acquiring an additional 1,338,309 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.