Franklin Resources Inc. Sells 1,193,886 Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK)

Franklin Resources Inc. lessened its position in Stoke Therapeutics, Inc. (NASDAQ:STOK - Free Report) by 98.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,314 shares of the company's stock after selling 1,193,886 shares during the period. Franklin Resources Inc.'s holdings in Stoke Therapeutics were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Stoke Therapeutics by 28.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,892 shares of the company's stock valued at $1,566,000 after acquiring an additional 25,988 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Stoke Therapeutics during the second quarter worth approximately $123,000. Rhumbline Advisers grew its position in Stoke Therapeutics by 14.3% in the second quarter. Rhumbline Advisers now owns 47,860 shares of the company's stock worth $647,000 after buying an additional 5,990 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Stoke Therapeutics by 7.2% in the second quarter. Los Angeles Capital Management LLC now owns 66,765 shares of the company's stock valued at $902,000 after buying an additional 4,508 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Stoke Therapeutics during the 2nd quarter valued at $29,000.

Stoke Therapeutics Price Performance

Shares of NASDAQ STOK traded up $0.24 during mid-day trading on Thursday, hitting $11.27. The company had a trading volume of 392,573 shares, compared to its average volume of 745,045. The business's 50-day simple moving average is $12.23 and its 200-day simple moving average is $13.27. The firm has a market cap of $596.94 million, a P/E ratio of -5.37 and a beta of 0.95. Stoke Therapeutics, Inc. has a 12 month low of $4.09 and a 12 month high of $17.58.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.52) by $0.05. Stoke Therapeutics had a negative net margin of 629.90% and a negative return on equity of 54.45%. The company had revenue of $4.89 million during the quarter, compared to analysts' expectations of $3.46 million. As a group, sell-side analysts predict that Stoke Therapeutics, Inc. will post -2.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STOK. Chardan Capital initiated coverage on Stoke Therapeutics in a report on Friday, December 20th. They issued a "buy" rating and a $24.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $22.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, November 6th. Leerink Partnrs upgraded shares of Stoke Therapeutics to a "strong-buy" rating in a report on Friday, October 11th. Leerink Partners assumed coverage on shares of Stoke Therapeutics in a report on Monday, October 14th. They set an "outperform" rating and a $18.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $35.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. One equities 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $21.29.

Insider Buying and Selling at Stoke Therapeutics

In related news, insider Barry Ticho sold 13,945 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $12.78, for a total transaction of $178,217.10. Following the sale, the insider now directly owns 47,332 shares in the company, valued at $604,902.96. This represents a 22.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan Allan sold 9,696 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $12.78, for a total value of $123,914.88. Following the sale, the general counsel now directly owns 35,142 shares of the company's stock, valued at $449,114.76. This represents a 21.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,849 shares of company stock worth $809,421 over the last three months. Company insiders own 11.30% of the company's stock.

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.