Stoke Therapeutics (NASDAQ:STOK) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research note published on Friday, Benzinga reports. Needham & Company LLC currently has a $22.00 price target on the stock.

Several other research analysts have also issued reports on STOK. JPMorgan Chase & Co. upped their target price on shares of Stoke Therapeutics from $6.00 to $13.00 and gave the stock a neutral rating in a research report on Tuesday, March 26th. TD Cowen upgraded Stoke Therapeutics from a market perform rating to an outperform rating in a report on Tuesday, March 26th. Canaccord Genuity Group decreased their price objective on Stoke Therapeutics from $21.00 to $20.00 and set a buy rating on the stock in a report on Tuesday, May 7th. HC Wainwright reaffirmed a buy rating and issued a $35.00 target price on shares of Stoke Therapeutics in a research note on Tuesday, May 7th. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of Stoke Therapeutics in a research report on Thursday, April 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $20.57.

Stoke Therapeutics Stock Up 2.7 %

NASDAQ:STOK opened at $13.87 on Friday. The stock has a market cap of $722.92 million, a P/E ratio of -5.76 and a beta of 0.88. The business’s 50-day moving average price is $13.82 and its two-hundred day moving average price is $9.45. Stoke Therapeutics has a twelve month low of $3.35 and a twelve month high of $17.58.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.03. The company had revenue of $4.22 million during the quarter, compared to the consensus estimate of $3.33 million. On average, equities research analysts expect that Stoke Therapeutics will post -2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Skorpios Trust sold 3,600,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the completion of the sale, the insider now owns 10,843,681 shares of the company’s stock, valued at $125,786,699.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of STOK. State Board of Administration of Florida Retirement System bought a new stake in shares of Stoke Therapeutics in the first quarter worth about $141,000. Sherbrooke Park Advisers LLC purchased a new stake in Stoke Therapeutics in the 3rd quarter worth approximately $48,000. BNP Paribas Financial Markets grew its position in shares of Stoke Therapeutics by 86.2% in the 1st quarter. BNP Paribas Financial Markets now owns 14,330 shares of the company’s stock worth $193,000 after buying an additional 6,636 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Stoke Therapeutics during the third quarter valued at approximately $58,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Stoke Therapeutics during the third quarter valued at approximately $64,000.

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.