Needham & Company LLC Reaffirms Buy Rating for Stoke Therapeutics (NASDAQ:STOK)

Needham & Company LLC reiterated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock.

STOK has been the topic of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Stoke Therapeutics in a report on Tuesday, December 10th. Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a research note on Friday, October 11th. Chardan Capital assumed coverage on Stoke Therapeutics in a research report on Friday, December 20th. They set a “buy” rating and a $24.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Finally, Leerink Partners initiated coverage on shares of Stoke Therapeutics in a report on Monday, October 14th. They set an “outperform” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.29.

Stoke Therapeutics Stock Performance

Shares of Stoke Therapeutics stock opened at $8.96 on Wednesday. The stock has a market capitalization of $474.58 million, a PE ratio of -4.27 and a beta of 0.95. Stoke Therapeutics has a 52 week low of $4.09 and a 52 week high of $17.58. The stock has a 50 day moving average price of $12.05 and a two-hundred day moving average price of $13.11.

Stoke Therapeutics (NASDAQ:STOK) last issued its earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The company had revenue of $4.89 million for the quarter, compared to analysts’ expectations of $3.46 million. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. Research analysts forecast that Stoke Therapeutics will post -2.03 EPS for the current year.

Insider Activity

In other news, CEO Edward M. Md Kaye sold 6,170 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $12.78, for a total transaction of $78,852.60. Following the completion of the transaction, the chief executive officer now owns 68,671 shares in the company, valued at approximately $877,615.38. This represents a 8.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barry Ticho sold 10,000 shares of Stoke Therapeutics stock in a transaction dated Monday, December 2nd. The stock was 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 directly owns 51,277 shares of the company’s stock, valued at approximately $618,913.39. This trade represents a 16.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,849 shares of company stock valued at $809,421 in the last ninety days. 11.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in shares of Stoke Therapeutics by 28.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,892 shares of the company’s stock valued at $1,566,000 after purchasing an additional 25,988 shares during the period. Rhumbline Advisers increased its position in shares of Stoke Therapeutics by 14.3% during the second quarter. Rhumbline Advisers now owns 47,860 shares of the company’s stock valued at $647,000 after buying an additional 5,990 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Stoke Therapeutics by 7.2% in the second quarter. Los Angeles Capital Management LLC now owns 66,765 shares of the company’s stock worth $902,000 after buying an additional 4,508 shares in the last quarter. Quest Partners LLC bought a new position in shares of Stoke Therapeutics in the second quarter valued at approximately $29,000. Finally, American Century Companies Inc. grew its stake in Stoke Therapeutics by 99.4% during the second quarter. American Century Companies Inc. now owns 59,149 shares of the company’s stock valued at $799,000 after acquiring an additional 29,489 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.