Stoke Therapeutics, Inc. to Post Q2 2024 Earnings of ($0.53) Per Share, Wedbush Forecasts (NASDAQ:STOK)

Stoke Therapeutics, Inc. (NASDAQ:STOK) – Wedbush lowered their Q2 2024 EPS estimates for shares of Stoke Therapeutics in a research note issued on Monday, May 6th. Wedbush analyst L. Chico now expects that the company will earn ($0.53) per share for the quarter, down from their prior estimate of ($0.51). Wedbush has a “Outperform” rating and a $17.00 price objective on the stock. The consensus estimate for Stoke Therapeutics’ current full-year earnings is ($2.28) per share. Wedbush also issued estimates for Stoke Therapeutics’ Q3 2024 earnings at ($0.54) EPS, Q4 2024 earnings at ($0.55) EPS, FY2024 earnings at ($2.18) EPS, FY2025 earnings at ($2.55) EPS, FY2026 earnings at ($2.61) EPS, FY2027 earnings at ($2.26) EPS and FY2028 earnings at ($0.90) EPS.

A number of other analysts also recently commented on STOK. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Stoke Therapeutics in a report on Monday. Canaccord Genuity Group cut their price target on shares of Stoke Therapeutics from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Stoke Therapeutics from $6.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. TD Cowen upgraded shares of Stoke Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 26th. Finally, HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

Stoke Therapeutics Trading Down 2.8 %

STOK stock opened at $11.60 on Thursday. The company has a market cap of $604.59 million, a price-to-earnings ratio of -4.89 and a beta of 0.82. Stoke Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.40. The firm has a 50-day moving average of $10.23 and a two-hundred day moving average of $6.68.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings data on Monday, March 25th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates 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.

Hedge Funds Weigh In On Stoke Therapeutics

A number of hedge funds have recently made changes to their positions in STOK. Bank of New York Mellon Corp boosted its position in Stoke Therapeutics by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 107,254 shares of the company’s stock valued at $423,000 after buying an additional 2,926 shares during the period. BNP Paribas Financial Markets boosted its position in Stoke Therapeutics by 86.2% in 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 during the period. State Board of Administration of Florida Retirement System purchased a new position in Stoke Therapeutics in the 1st quarter valued at approximately $141,000. Dorsey & Whitney Trust CO LLC purchased a new position in Stoke Therapeutics in the 3rd quarter valued at approximately $43,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Stoke Therapeutics in the 3rd quarter valued at approximately $48,000.

Insider Buying and Selling

In related news, major shareholder Skorpios Trust sold 3,600,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the completion of the transaction, the insider now owns 10,843,681 shares of the company’s stock, valued at approximately $125,786,699.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Edward M. Md Kaye sold 11,150 shares of the stock in a transaction that occurred 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 owns 69,350 shares of the company’s stock, valued at approximately $423,035. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Skorpios Trust sold 3,600,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the transaction, the insider now directly owns 10,843,681 shares of the company’s stock, valued at approximately $125,786,699.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,622,741 shares of company stock valued at $41,935,115. 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.