Needham & Company LLC Reiterates “Buy” Rating for Stoke Therapeutics (NASDAQ:STOK)

Needham & Company LLC restated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report sent to investors on Monday, Benzinga reports. Needham & Company LLC currently has a $22.00 price objective on the stock.

Several other equities research analysts also recently commented on STOK. Canaccord Genuity Group boosted their target price on shares of Stoke Therapeutics from $18.00 to $21.00 and gave the stock a buy rating in a research report on Tuesday, March 26th. HC Wainwright reissued a buy rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research note on Tuesday, March 26th. Wedbush upped their target price on Stoke Therapeutics from $13.00 to $17.00 and gave the company an outperform rating in a report on Tuesday, March 26th. TD Cowen upgraded Stoke Therapeutics from a market perform rating to an outperform rating in a research note on Tuesday, March 26th. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Stoke Therapeutics in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $20.71.

Stoke Therapeutics Price Performance

STOK stock opened at $11.87 on Monday. Stoke Therapeutics has a 1-year low of $3.35 and a 1-year high of $16.40. The stock has a 50-day moving average price of $10.15 and a 200-day moving average price of $6.62.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Monday, March 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.02. The business had revenue of $2.80 million during the quarter, compared to analyst estimates of $3.70 million. As a group, equities research analysts forecast that Stoke Therapeutics will post -2.28 earnings per share for the current year.

Insider Activity

In related news, CFO Stephen J. Tulipano sold 4,116 shares of Stoke Therapeutics stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.10, for a total value of $25,107.60. Following the completion of the transaction, the chief financial officer now directly owns 20,746 shares in the company, valued at approximately $126,550.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Edward M. Md Kaye sold 11,150 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.10, for a total transaction of $68,015.00. Following the completion of the transaction, the chief executive officer now directly owns 69,350 shares in the company, valued at approximately $423,035. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Tulipano sold 4,116 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total value of $25,107.60. Following the transaction, the chief financial officer now owns 20,746 shares of the company’s stock, valued at $126,550.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,622,741 shares of company stock valued at $41,935,115 over the last quarter. Company insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Stoke Therapeutics by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 107,254 shares of the company’s stock valued at $423,000 after purchasing an additional 2,926 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Stoke Therapeutics by 86.2% during the 1st quarter. BNP Paribas Financial Markets now owns 14,330 shares of the company’s stock valued at $193,000 after buying an additional 6,636 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Stoke Therapeutics during the 3rd quarter worth $43,000. Sherbrooke Park Advisers LLC purchased a new position in Stoke Therapeutics in the third quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Stoke Therapeutics by 9.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 146,076 shares of the company’s stock valued at $576,000 after acquiring an additional 12,478 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.