BEDFORD, MA—Edward M. Kaye, MD, the CEO of Stoke Therapeutics, Inc. (NASDAQ:STOK), recently sold 6,170 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $12.7775 per share, resulting in a total transaction value of $78,837. The transaction comes as the company's stock has shown remarkable performance, with a year-to-date return of over 150%, according to InvestingPro data.
The sale, which took place on December 6, 2024, was conducted to satisfy tax withholding liabilities related to the vesting and settlement of restricted stock units. Following this transaction, Kaye retains ownership of 68,671 shares in the company. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 5.09, while analysts have set price targets ranging from $15 to $35.
Stoke Therapeutics, based in Bedford, Massachusetts, is known for its focus on developing treatments for genetic diseases. The company, currently valued at approximately $707 million, has demonstrated significant revenue growth of 81% in the last twelve months.
In other recent news, Stoke Therapeutics has gained considerable attention with its drug zorevunersen receiving the Breakthrough Therapy Designation from the U.S. Food and Drug Administration for the treatment of Dravet syndrome. This decision follows positive outcomes from Phase 1/2a and open-label extension studies, which demonstrated a significant reduction in seizure frequency and improvements in cognitive and behavioral measures in patients. The company is now in discussions with the FDA and other global regulatory bodies to advance zorevunersen into a global Phase 3 registrational study.
In related news, Stoke Therapeutics has maintained its Buy rating from TD Cowen following the release of promising clinical trial results for zorevunersen. Furthermore, the company has settled a director compensation dispute, agreeing to a mootness fee of $175,000 and consenting to pay up to $415,000 in attorney's fees and expenses. This settlement includes the company's commitment to maintain specific director compensation policy changes.
Lastly, Stoke Therapeutics upheld its Buy rating and a price target of $35 per share as confirmed by a leading brokerage firm. This endorsement comes following the evaluation of recent Open Label Extension data, which supports a sustained dosing strategy for zorevunersen, deemed crucial for the ongoing trial's success. These are the recent developments that have shaped Stoke Therapeutics' trajectory.
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