Stoke Therapeutics, Inc. (NASDAQ:STOK – Get Free Report) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 6,980,000 shares, a drop of 19.9% from the September 15th total of 8,710,000 shares. Based on an average daily trading volume, of 551,400 shares, the short-interest ratio is presently 12.7 days.
Insiders Place Their Bets
In other Stoke Therapeutics news, 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 value of $27,221,875.00. Following the completion of the transaction, the insider now owns 8,906,181 shares of the company’s stock, valued at $125,131,843.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Redmile Group LLC lifted its holdings 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 valued at $68,486,000 after buying an additional 2,447,543 shares during the last quarter. Lynx1 Capital Management LP grew its position in Stoke Therapeutics by 40.3% in the second quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company’s stock worth $70,052,000 after acquiring an additional 1,488,371 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Stoke Therapeutics during the 2nd quarter worth $19,835,000. Baker BROS. Advisors LP raised its holdings 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 valued at $45,474,000 after purchasing an additional 1,338,309 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of 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 valued at $18,741,000 after purchasing an additional 1,123,500 shares during the last quarter.
Wall Street Analyst Weigh In
STOK has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, September 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a research note on Thursday, July 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.40.
Stoke Therapeutics Stock Performance
Shares of NASDAQ:STOK traded up $0.44 during mid-day trading on Friday, hitting $11.84. The stock had a trading volume of 698,713 shares, compared to its average volume of 796,238. Stoke Therapeutics has a 12-month low of $3.35 and a 12-month high of $17.58. The company has a market cap of $617.11 million, a PE ratio of -4.91 and a beta of 0.97. The company’s 50 day moving average is $13.79 and its 200-day moving average is $13.72.
Stoke Therapeutics (NASDAQ:STOK – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.46) earnings per share for the quarter, beating 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 business had revenue of $4.83 million for the quarter, compared to the consensus estimate of $3.33 million. On average, equities research analysts predict that Stoke Therapeutics will post -2.1 EPS for the current fiscal year.
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.