Chardan Capital Reaffirms Buy Rating for Stoke Therapeutics (NASDAQ:STOK)

Chardan Capital reiterated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research note released on Wednesday morning,Benzinga reports. Chardan Capital currently has a $24.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Stoke Therapeutics in a report on Tuesday. HC Wainwright raised their price objective on Stoke Therapeutics from $35.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Stoke Therapeutics in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.00.

Stoke Therapeutics Stock Performance

NASDAQ:STOK opened at $8.15 on Wednesday. Stoke Therapeutics has a 1 year low of $5.93 and a 1 year high of $17.58. The stock has a fifty day moving average price of $9.47 and a two-hundred day moving average price of $11.45. The stock has a market capitalization of $431.68 million, a price-to-earnings ratio of -3.88 and a beta of 0.99.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.38. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. The business had revenue of $22.61 million for the quarter, compared to analysts’ expectations of $4.20 million. On average, analysts predict that Stoke Therapeutics will post -2.01 EPS for the current year.

Insider Activity at Stoke Therapeutics

In other news, insider Barry Ticho sold 3,884 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.67, for a total value of $33,674.28. Following the completion of the transaction, the insider now directly owns 63,962 shares of the company’s stock, valued at $554,550.54. The trade was a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward M. Md Kaye sold 10,382 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $8.67, for a total value of $90,011.94. Following the completion of the sale, the director now owns 148,253 shares in the company, valued at $1,285,353.51. This represents a 6.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,532 shares of company stock valued at $143,332. 11.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stoke Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of STOK. Bank of New York Mellon Corp boosted its position in Stoke Therapeutics by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 93,195 shares of the company’s stock worth $1,028,000 after acquiring an additional 1,330 shares during the last quarter. Graham Capital Management L.P. raised its holdings in Stoke Therapeutics by 8.5% in the 4th quarter. Graham Capital Management L.P. now owns 18,634 shares of the company’s stock valued at $206,000 after acquiring an additional 1,453 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Stoke Therapeutics by 2.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 92,546 shares of the company’s stock worth $1,021,000 after purchasing an additional 1,791 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stoke Therapeutics by 6.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,455 shares of the company’s stock worth $414,000 after purchasing an additional 2,215 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Stoke Therapeutics by 6.0% during the fourth quarter. Rhumbline Advisers now owns 49,374 shares of the company’s stock worth $545,000 after purchasing an additional 2,787 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.