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Allan Jonathan, the General Counsel and Corporate Secretary of Stoke Therapeutics, Inc. (NASDAQ:STOK), a company currently valued at $452 million and trading near $8.33, recently executed a series of stock transactions, according to a recent SEC filing. According to InvestingPro analysis, the stock appears undervalued despite facing profitability challenges. On March 18 and 19, Jonathan sold a combined total of 4,211 shares of Stoke Therapeutics’ common stock. The sales were executed at prices ranging from $8.27 to $8.67 per share, amounting to a total value of $35,731. These transactions occurred as the stock trades significantly below its 52-week high of $17.58, with analysts setting price targets between $15 and $47.
These transactions were part of an issuer-mandated sale to satisfy tax withholding liabilities associated with the vesting and settlement of restricted stock units. Following these sales, Jonathan holds 31,565 shares of the company directly.
In addition to these sales, Jonathan acquired 72,000 employee stock options and 48,000 restricted stock units on March 20. These transactions were recorded at a price of $0 per share, reflecting the nature of stock options and restricted stock units as compensation tools. The stock options are set to expire in 2035, while the restricted stock units will vest annually over the next four years, contingent on continued service to the company.
In other recent news, Stoke Therapeutics reported impressive fourth-quarter financial results, with adjusted earnings per share of -$0.18, surpassing analyst estimates of -$0.55. Revenue for the quarter reached $22.61 million, significantly exceeding the consensus estimate of $4.1 million and marking a substantial increase from $2.8 million in the same period last year. The company also announced a leadership change, with CEO Edward M. Kaye stepping down and transitioning to an advisory role, while remaining on the board of directors. This leadership shift coincides with the upcoming Phase 3 EMPEROR study, set to begin in the second quarter of 2025, focusing on the drug candidate zorevunersen for Dravet syndrome.
Analysts at H.C. Wainwright reiterated their Buy rating and $47 price target for Stoke Therapeutics, expressing confidence in the company’s strategic positioning and recent developments. The reaffirmation follows Stoke’s recent collaboration with Biogen (NASDAQ:BIIB), which included a $165 million upfront payment, providing financial stability expected to support operations through mid-2028. The company’s Phase 1/2 trial results for zorevunersen showed promising safety and efficacy data, with significant reductions in seizure frequency. Furthermore, Stoke’s full-year 2024 revenue increased to $36.6 million from $8.8 million the previous year, despite a net loss of $89 million, demonstrating substantial growth in its financial performance.
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