BEDFORD, MA—Ticho Barry, the Chief Medical (TASE:PMCN) Officer of Stoke Therapeutics, Inc. (NASDAQ:STOK), recently sold shares of the company's common stock. According to a regulatory filing, Barry sold 2,586 shares on December 9 at a weighted average price of approximately $12.9913 per share, totaling $33,595. The transaction comes as Stoke Therapeutics, with a market capitalization of $691 million, has delivered an impressive 152% return year-to-date, according to InvestingPro data.
This transaction was described as an issuer-mandated sale to cover tax withholding liabilities following the vesting and settlement of restricted stock units. After this sale, Barry holds 44,746 shares of Stoke Therapeutics directly. InvestingPro analysis shows the company maintains a strong financial position with a current ratio of 5.09, indicating robust liquidity. Analysts maintain a positive outlook, with price targets ranging from $15 to $35.
The shares were sold in multiple transactions, with prices ranging from $12.99 to $13.13 per share. The company holds more cash than debt on its balance sheet, reflecting solid financial health according to InvestingPro, which offers additional insights through its comprehensive financial analysis tools.
In other recent news, Stoke Therapeutics has made significant strides with its drug candidate, zorevunersen, aimed at treating Dravet syndrome - a rare form of epilepsy. The U.S. Food and Drug Administration (FDA) granted the drug Breakthrough Therapy Designation, which could expedite the development and review process. This decision follows positive outcomes from Phase 1/2a and open-label extension studies, showing that zorevunersen significantly reduced seizure frequency and improved cognitive and behavioral measures in patients. Stoke Therapeutics is in ongoing discussions with the FDA and other global regulatory bodies to advance zorevunersen into a global, randomized, controlled Phase 3 registrational study. In terms of analyst ratings, Stoke Therapeutics maintained its Buy rating from TD Cowen, following the release of encouraging clinical trial results. In addition, the company also 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. These are recent developments that have shaped Stoke Therapeutics' trajectory.
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