Norges Bank Takes $3.47 Million Position in Stoke Therapeutics, Inc. (NASDAQ:STOK)

Norges Bank acquired a new stake in Stoke Therapeutics, Inc. (NASDAQ:STOK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 314,800 shares of the company’s stock, valued at approximately $3,472,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Stoke Therapeutics during the fourth quarter worth about $63,000. Teacher Retirement System of Texas acquired a new position in shares of Stoke Therapeutics during the fourth quarter valued at approximately $113,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Stoke Therapeutics in the fourth quarter valued at approximately $124,000. JPMorgan Chase & Co. boosted its stake in shares of Stoke Therapeutics by 29.2% in the fourth quarter. JPMorgan Chase & Co. now owns 19,964 shares of the company’s stock worth $220,000 after acquiring an additional 4,512 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Stoke Therapeutics during the fourth quarter worth approximately $353,000.

Insider Activity at Stoke Therapeutics

In other news, insider Barry Ticho sold 3,884 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.67, for a total value of $33,674.28. Following the completion of the transaction, the insider now owns 63,962 shares of the company’s stock, valued at approximately $554,550.54. This trade represents a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward M. Md Kaye sold 10,382 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.67, for a total transaction of $90,011.94. Following the sale, the director now directly owns 148,253 shares in the company, valued at approximately $1,285,353.51. The trade was a 6.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,532 shares of company stock worth $143,332 in the last three months. 11.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STOK has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Stoke Therapeutics in a research note on Wednesday. HC Wainwright restated a “buy” rating and issued a $47.00 target price on shares of Stoke Therapeutics in a report on Wednesday, March 19th. Finally, Chardan Capital reissued a “buy” rating and set a $24.00 price target on shares of Stoke Therapeutics in a research report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.67.

Stoke Therapeutics Stock Performance

Shares of STOK stock opened at $6.52 on Friday. The firm has a market cap of $352.59 million, a P/E ratio of -3.10 and a beta of 1.09. The firm’s 50 day moving average price is $8.39 and its 200-day moving average price is $10.56. Stoke Therapeutics, Inc. has a one year low of $5.35 and a one year high of $17.58.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.38. Stoke Therapeutics had a negative return on equity of 54.45% and a negative net margin of 629.90%. The company had revenue of $22.61 million for the quarter, compared to analysts’ expectations of $4.20 million. As a group, research analysts predict that Stoke Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

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.