Stoke Therapeutics (NASDAQ:STOK) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $22.00 price target on the stock.

A number of other brokerages have also recently commented on STOK. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, January 8th. Chardan Capital started coverage on shares of Stoke Therapeutics in a research note on Friday, December 20th. They set a “buy” rating and a $24.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.00.

Stoke Therapeutics Stock Performance

Shares of STOK opened at $9.71 on Tuesday. The company has a 50-day simple moving average of $10.84 and a 200-day simple moving average of $12.40. The firm has a market capitalization of $514.34 million, a P/E ratio of -4.62 and a beta of 0.95. Stoke Therapeutics has a 52 week low of $5.14 and a 52 week high of $17.58.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 13,666 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.61, for a total transaction of $185,994.26. Following the transaction, the general counsel now owns 21,476 shares in the company, valued at $292,288.36. This represents a 38.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Barry Ticho sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $12.07, for a total transaction of $120,700.00. Following the transaction, the insider now owns 51,277 shares in the company, valued at approximately $618,913.39. The trade was a 16.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,849 shares of company stock worth $809,421. Insiders own 11.30% of the company’s stock.

Institutional Trading of Stoke Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. bought a new position in Stoke Therapeutics in the 3rd quarter valued at approximately $192,000. Los Angeles Capital Management LLC lifted its stake in Stoke Therapeutics by 54.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 103,005 shares of the company’s stock valued at $1,266,000 after purchasing an additional 36,240 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Stoke Therapeutics during the third quarter valued at $160,000. Charles Schwab Investment Management Inc. raised its stake in shares of Stoke Therapeutics by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 316,134 shares of the company’s stock valued at $3,885,000 after acquiring an additional 26,870 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Stoke Therapeutics by 1,589.7% during the third quarter. BNP Paribas Financial Markets now owns 76,154 shares of the company’s stock valued at $936,000 after acquiring an additional 71,647 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.