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

Stoke Therapeutics, Inc. (NASDAQ:STOK)’s share price fell 4.7% on Monday following insider selling activity. The stock traded as low as $13.06 and last traded at $13.11. 114,268 shares traded hands during mid-day 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 value of $27,221,875.00. Following the completion of the transaction, the insider now directly owns 8,906,181 shares of the company’s stock, valued at approximately $125,131,843.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HC Wainwright restated 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 restated 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 reiterated an “outperform” rating and issued a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.40.

Stoke Therapeutics Price Performance

The company’s 50 day simple moving average is $14.44 and its 200-day simple moving average is $13.28.

Stoke Therapeutics (NASDAQ:STOK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.83 million for the quarter, compared to the consensus estimate of $3.33 million. On average, equities analysts forecast that Stoke Therapeutics, Inc. will post -2.18 EPS for the current year.

Institutional Trading of Stoke Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Birchview Capital LP increased its stake in Stoke Therapeutics by 147.1% in the 4th quarter. Birchview Capital LP now owns 210,000 shares of the company’s stock worth $1,105,000 after buying an additional 125,000 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Stoke Therapeutics during the first quarter valued at approximately $1,224,000. BNP Paribas Financial Markets boosted its holdings in shares of Stoke Therapeutics by 86.2% in the first quarter. BNP Paribas Financial Markets now owns 14,330 shares of the company’s stock valued at $193,000 after purchasing an additional 6,636 shares during the period. Chase Investment Counsel Corp purchased a new stake in shares of Stoke Therapeutics in the first quarter valued at approximately $279,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Stoke Therapeutics in the first quarter worth approximately $141,000.

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.