Assenagon Asset Management S.A. Cuts Stake in Stoke Therapeutics, Inc. $STOK

Assenagon Asset Management S.A. cut its stake in shares of Stoke Therapeutics, Inc. (NASDAQ:STOK) by 26.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 907,015 shares of the company’s stock after selling 320,708 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Stoke Therapeutics were worth $29,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new position in Stoke Therapeutics during the 4th quarter valued at about $26,000. Harbour Investments Inc. lifted its holdings in Stoke Therapeutics by 312.9% in the fourth quarter. Harbour Investments Inc. now owns 1,185 shares of the company’s stock worth $38,000 after buying an additional 898 shares during the period. Generali Investments Management Co LLC purchased a new stake in Stoke Therapeutics in the third quarter worth about $41,000. BNP Paribas Financial Markets boosted its position in Stoke Therapeutics by 66.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company’s stock valued at $48,000 after acquiring an additional 1,668 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Stoke Therapeutics by 461.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company’s stock valued at $50,000 after acquiring an additional 3,591 shares in the last quarter.

Stoke Therapeutics Trading Up 5.3%

Shares of NASDAQ STOK opened at $32.00 on Friday. Stoke Therapeutics, Inc. has a 12-month low of $11.19 and a 12-month high of $40.22. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -11.39 and a beta of 1.17. The firm has a 50 day moving average of $31.51 and a 200 day moving average of $32.36.

Stoke Therapeutics (NASDAQ:STOK) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.01. Stoke Therapeutics had a negative net margin of 529.20% and a negative return on equity of 48.84%. The business had revenue of $6.23 million for the quarter, compared to analysts’ expectations of $6.48 million. Sell-side analysts predict that Stoke Therapeutics, Inc. will post -3.22 EPS for the current year.

Analyst Upgrades and Downgrades

STOK has been the subject of several research reports. BTIG Research reissued a “buy” rating and issued a $39.00 target price on shares of Stoke Therapeutics in a research report on Monday, May 11th. Canaccord Genuity Group raised their target price on shares of Stoke Therapeutics from $36.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Wall Street Zen lowered Stoke Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Chardan Capital reiterated a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday, March 18th. Finally, Needham & Company LLC increased their price objective on shares of Stoke Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.83.

Insider Buying and Selling

In other Stoke Therapeutics news, insider Barry Ticho sold 1,795 shares of Stoke Therapeutics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $30.58, for a total value of $54,891.10. Following the completion of the transaction, the insider directly owned 34,826 shares of the company’s stock, valued at $1,064,979.08. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 1,457 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $29.95, for a total value of $43,637.15. Following the sale, the general counsel directly owned 18,086 shares in the company, valued at $541,675.70. The trade was a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by corporate insiders.

About Stoke Therapeutics

Stoke Therapeutics, headquartered in Bedford, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing genetic medicines to upregulate protein production for the treatment of rare neuromuscular and neurological disorders. Founded in 2014, the company applies its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO™) platform to design antisense oligonucleotides that selectively modulate RNA splicing and enhance expression of functional proteins.

The company’s lead program, STK-001, is an antisense oligonucleotide therapy designed to increase production of the sodium channel protein SCN1A and is currently in clinical development for Dravet syndrome, a severe childhood-onset epilepsy.