Stoke Therapeutics (NASDAQ:STOK) Shares Down 4.7% After Insider Selling

Stoke Therapeutics, Inc. (NASDAQ:STOK) shares fell 4.7% during trading on Monday following insider selling activity. The company traded as low as $13.06 and last traded at $13.11. 114,268 shares traded hands during trading, a decline of 86% from the average session volume of 805,699 shares. The stock had previously closed at $13.75.

Specifically, major shareholder Skorpios Trust sold 1,937,500 shares of Stoke Therapeutics stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the transaction, the insider now owns 8,906,181 shares in the company, valued at approximately $125,131,843.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

STOK has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research report on Wednesday, September 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research report on Thursday, August 8th. Finally, Wedbush reissued an “outperform” rating and issued a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.40.

Stoke Therapeutics Price Performance

The company has a 50-day moving average price of $14.44 and a 200 day moving average price of $13.28.

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

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of STOK. Nisa Investment Advisors LLC lifted its stake in Stoke Therapeutics by 53.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after purchasing an additional 1,038 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Stoke Therapeutics by 5.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,431 shares of the company’s stock valued at $425,000 after buying an additional 1,642 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in 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 buying an additional 1,994 shares in the last quarter. Quest Partners LLC bought a new stake in Stoke Therapeutics in the 2nd quarter worth approximately $29,000. Finally, Los Angeles Capital Management LLC increased its stake in Stoke Therapeutics by 7.2% in the 2nd 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.

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.