Stoke Therapeutics (NASDAQ:STOK) Downgraded by Bank of America

Bank of America lowered shares of Stoke Therapeutics (NASDAQ:STOKGet Rating) from a buy rating to an underperform rating in a report published on Friday, The Fly reports. The brokerage currently has $9.00 price objective on the stock, down from their prior price objective of $22.00.

Other research analysts also recently issued reports about the company. Needham & Company LLC dropped their price target on Stoke Therapeutics from $50.00 to $25.00 and set a buy rating on the stock in a research note on Monday, November 14th. HC Wainwright decreased their price objective on Stoke Therapeutics from $70.00 to $35.00 and set a buy rating for the company in a report on Monday, December 5th. Credit Suisse Group decreased their price objective on Stoke Therapeutics from $50.00 to $38.00 and set an outperform rating for the company in a report on Tuesday, November 15th. SVB Leerink raised Stoke Therapeutics from a market perform rating to an outperform rating and set a $30.00 price objective for the company in a report on Monday, October 24th. Finally, Cantor Fitzgerald decreased their price objective on Stoke Therapeutics from $38.00 to $20.00 in a report on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $29.57.

Stoke Therapeutics Stock Performance

STOK stock opened at $8.52 on Friday. The stock’s 50 day simple moving average is $9.01 and its 200 day simple moving average is $12.99. Stoke Therapeutics has a fifty-two week low of $6.88 and a fifty-two week high of $26.60. The company has a market cap of $335.85 million, a P/E ratio of -3.26 and a beta of 0.38.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors have recently modified their holdings of STOK. Wellington Management Group LLP bought a new position in shares of Stoke Therapeutics in the first quarter valued at approximately $25,011,000. Bank of Montreal Can bought a new position in shares of Stoke Therapeutics in the second quarter valued at approximately $13,793,000. Millennium Management LLC grew its holdings in shares of Stoke Therapeutics by 121.9% in the second quarter. Millennium Management LLC now owns 949,658 shares of the company’s stock valued at $12,545,000 after acquiring an additional 521,661 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Stoke Therapeutics by 190.0% in the second quarter. Deutsche Bank AG now owns 788,381 shares of the company’s stock valued at $10,415,000 after acquiring an additional 516,495 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Stoke Therapeutics by 6.8% in the second quarter. FMR LLC now owns 2,964,988 shares of the company’s stock valued at $39,168,000 after acquiring an additional 189,406 shares in the last quarter.

Stoke Therapeutics Company Profile

(Get Rating)

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops novel antisense oligonucleotide (ASO) 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 design ASOs to precisely upregulate protein expression.

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