HC Wainwright Reiterates “Buy” Rating for Stoke Therapeutics (NASDAQ:STOK)

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $35.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 163.75% from the stock’s previous close.

Several other brokerages have also issued reports on STOK. Leerink Partnrs upgraded shares of Stoke Therapeutics to a “strong-buy” rating in a research report on Friday, October 11th. Wedbush reiterated an “outperform” rating and issued a $17.00 target price on shares of Stoke Therapeutics in a research report on Thursday, July 11th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research report on Thursday, August 8th. Finally, Leerink Partners initiated coverage on shares of Stoke Therapeutics in a research report on Monday, October 14th. They issued an “outperform” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Stoke Therapeutics currently has an average rating of “Buy” and an average target price of $20.83.

Stoke Therapeutics Trading Up 0.2 %

Stoke Therapeutics stock opened at $13.27 on Wednesday. Stoke Therapeutics has a 1-year low of $3.77 and a 1-year high of $17.58. The firm has a market capitalization of $698.64 million, a price-to-earnings ratio of -6.09 and a beta of 0.95. The firm has a 50 day simple moving average of $13.24 and a 200 day simple moving average of $13.70.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. The firm had revenue of $4.89 million during the quarter, compared to analyst estimates of $3.46 million. Stoke Therapeutics had a negative net margin of 683.35% and a negative return on equity of 57.89%. On average, equities research analysts forecast that Stoke Therapeutics will post -2.1 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Skorpios Trust sold 1,937,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total value of $27,221,875.00. Following the sale, the insider now owns 8,906,181 shares in the company, valued at approximately $125,131,843.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Stoke Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Stoke Therapeutics by 53.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock valued at $40,000 after purchasing an additional 1,038 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Stoke Therapeutics by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,431 shares of the company’s stock valued at $425,000 after purchasing an additional 1,642 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Stoke Therapeutics by 16.7% during the 2nd 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. Quest Partners LLC bought a new stake in shares of Stoke Therapeutics during the 2nd quarter valued at $29,000. Finally, Los Angeles Capital Management LLC grew its stake 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 valued at $902,000 after acquiring an additional 4,508 shares in the last quarter.

Stoke Therapeutics Company Profile

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.