Stoke Therapeutics (NASDAQ:STOK) Shares Gap Down - Here's Why

Shares of Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $11.02, but opened at $9.82. Stoke Therapeutics shares last traded at $9.69, with a volume of 448,132 shares.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STOK shares. HC Wainwright reissued a "buy" rating and issued a $35.00 price target on shares of Stoke Therapeutics in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Stoke Therapeutics in a research note on Tuesday, December 10th. Needham & Company LLC restated a "buy" rating and set a $22.00 price target on shares of Stoke Therapeutics in a research report on Wednesday, November 6th. Leerink Partners began coverage on shares of Stoke Therapeutics in a research report on Monday, October 14th. They issued an "outperform" rating and a $18.00 price objective for the company. Finally, Leerink Partnrs raised Stoke Therapeutics to a "strong-buy" rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Stoke Therapeutics presently has a consensus rating of "Buy" and an average price target of $21.29.

Stoke Therapeutics Trading Down 15.5 %

The firm has a market capitalization of $493.12 million, a price-to-earnings ratio of -4.43 and a beta of 0.95. The company's 50 day moving average is $12.12 and its 200-day moving average is $13.14.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.05. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. The company had revenue of $4.89 million for the quarter, compared to the consensus estimate of $3.46 million. Research analysts expect that Stoke Therapeutics, Inc. will post -2.03 EPS for the current year.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, CEO Edward M. Md Kaye sold 6,170 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $12.78, for a total transaction of $78,852.60. Following the sale, the chief executive officer now owns 68,671 shares of the company's stock, valued at approximately $877,615.38. This represents a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Barry Ticho sold 13,945 shares of Stoke Therapeutics stock in a transaction on Friday, December 6th. The shares were sold at an average price of $12.78, for a total transaction of $178,217.10. Following the completion of the sale, the insider now owns 47,332 shares of the company's stock, valued at $604,902.96. This represents a 22.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,849 shares of company stock valued at $809,421 over the last ninety days. 11.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stoke Therapeutics

A number of large investors have recently modified their holdings of STOK. Lynx1 Capital Management LP boosted its stake in Stoke Therapeutics by 40.3% in the second quarter. Lynx1 Capital Management LP now owns 5,185,191 shares of the company's stock valued at $70,052,000 after acquiring an additional 1,488,371 shares during the last quarter. RTW Investments LP boosted its holdings in Stoke Therapeutics by 10.1% in the 3rd quarter. RTW Investments LP now owns 4,652,285 shares of the company's stock valued at $57,177,000 after purchasing an additional 427,447 shares during the period. State Street Corp grew its position in Stoke Therapeutics by 8.6% during the third quarter. State Street Corp now owns 1,728,888 shares of the company's stock worth $21,248,000 after buying an additional 137,145 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Stoke Therapeutics by 426.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,387,200 shares of the company's stock valued at $18,741,000 after purchasing an additional 1,123,500 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Stoke Therapeutics by 550.1% during the 2nd quarter. Marshall Wace LLP now owns 1,161,037 shares of the company's stock valued at $15,686,000 after buying an additional 982,451 shares in the last quarter.

Stoke Therapeutics Company Profile

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.