Stoke Therapeutics (NASDAQ:STOK) Shares Gap Down After Insider Selling

Stoke Therapeutics, Inc. (NASDAQ:STOK) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $13.27, but opened at $12.99. Stoke Therapeutics shares last traded at $12.78, with a volume of 36,211 shares.

Specifically, major shareholder Skorpios Trust sold 1,937,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the transaction, the insider now directly owns 8,906,181 shares in the company, valued at $125,131,843.05. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STOK. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a report on Wednesday, September 11th. Wedbush restated an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Stoke Therapeutics in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.40.

Stoke Therapeutics Stock Performance

The firm has a 50 day moving average of $14.44 and a two-hundred day moving average of $13.28. The stock has a market cap of $670.28 million, a P/E ratio of -5.34 and a beta of 0.96.

Stoke Therapeutics (NASDAQ:STOK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.11. The company had revenue of $4.83 million for the quarter, compared to the consensus estimate of $3.33 million. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. On average, sell-side analysts anticipate that Stoke Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in Stoke Therapeutics by 426.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,387,200 shares of the company’s stock worth $18,741,000 after buying an additional 1,123,500 shares during the period. Lynx1 Capital Management LP increased its position in shares of Stoke Therapeutics by 40.3% during the second quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock valued at $70,052,000 after purchasing an additional 1,488,371 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Stoke Therapeutics by 16.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after purchasing an additional 1,994 shares during the period. Millennium Management LLC increased its position in shares of Stoke Therapeutics by 528.6% during the second quarter. Millennium Management LLC now owns 289,067 shares of the company’s stock valued at $3,905,000 after purchasing an additional 243,083 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Stoke Therapeutics by 550.1% during the second quarter. Marshall Wace LLP now owns 1,161,037 shares of the company’s stock valued at $15,686,000 after purchasing an additional 982,451 shares during the period.

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.