SMR, GCTS and GSIW among mid-day movers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 27 2024
0mins
Source: SeekingAlpha
- Gainers: GCT Semiconductor Holding, iBio, Cazoo Group Ltd, and others saw significant stock increases.
- Losers: Companies like Gamida Cell Ltd, Direct Digital Holdings, Wetouch Technology, and others experienced notable stock declines.
- NuScale Power Corporation: Experienced fluctuations in stock price due to various factors like earnings calls and analyst ratings.
- Market Trends: Volatility in the stock market with some companies soaring while others plunging.
- Analyst Reports: Wells Fargo and Canaccord provided contrasting views on NuScale Power Corporation's performance.
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Analyst Views on STOK
Wall Street analysts forecast STOK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for STOK is 35.75 USD with a low forecast of 25.00 USD and a high forecast of 50.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
8 Buy
1 Hold
0 Sell
Strong Buy
Current: 29.400
Low
25.00
Averages
35.75
High
50.00
Current: 29.400
Low
25.00
Averages
35.75
High
50.00
About STOK
Stoke Therapeutics, Inc. is a biotechnology company dedicated to addressing the underlying cause of severe diseases by upregulating protein expression with ribonucleic acid (RNA)-based medicines. The Company, through its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO) approach, is engaged in developing antisense oligonucleotides (ASOs) to selectively restore protein levels. Its first compound, zorevunersen (STK-002), is in clinical testing for the treatment of Dravet syndrome, a severe and progressive genetic epilepsy. TANGO aims to restore missing proteins by increasing or stoking protein output from healthy genes, thus compensating for the non-functioning copy of the gene. The Company is pursuing the development of STK-002 for the treatment of autosomal dominant optic atrophy (ADOA), the most common inherited optic nerve disorder. The Company’s initial focus is haploinsufficiency and diseases of the central nervous system and the eye.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Stoke Therapeutics Secures New Headquarters in Waltham for Growth and Research Expansion
- New Headquarters: Stoke Therapeutics plans to relocate to a new 98,500 square-foot headquarters in Waltham by late 2026, aimed at supporting the commercialization of its first potential disease-modifying drug, zorevunersen, enhancing its market competitiveness in treating Dravet syndrome.
- Significant Lease: This lease represents one of the largest life sciences leases in the Greater Boston area over the past year, reflecting the resilience and continued growth potential of the region's life sciences market, further solidifying Waltham's status as a biotech hub.
- Research Expansion Plans: Stoke aims to leverage the new headquarters to foster teamwork and innovation, not only advancing zorevunersen through clinical trials but also expanding its research pipeline to develop more new medicines for severe diseases, enhancing the company's long-term growth potential.
- Sustainability Commitment: The new site is LEED Gold and WiredScore Platinum certified, demonstrating Stoke's commitment to operational efficiency and sustainability, ensuring a competitive edge in attracting top talent and meeting market demands.
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Stoke Therapeutics Secures New Headquarters in Waltham
- New Headquarters: Stoke Therapeutics has secured a long-term lease for a 98,500 square-foot headquarters in Waltham, set to relocate by late 2026, marking a significant step in the development of its potential disease-modifying medicine, zorevunersen, for Dravet syndrome.
- Research Expansion: The new headquarters will bolster Stoke's research efforts in RNA medicine, particularly in preparing for the commercialization of zorevunersen, which is expected to provide the first potential new treatment for Dravet syndrome patients, enhancing the company's market position in the biotech sector.
- Market Resilience: Despite a national slowdown in the life sciences market, Waltham and its surrounding areas continue to demonstrate strong resilience, serving as a critical support for the biotech industry, reflecting the ongoing strength of the Greater Boston life sciences market.
- Sustainability Commitment: The new property is LEED Gold and WiredScore Platinum certified, showcasing Stoke's commitment to sustainability and modern infrastructure, aligning with the strategic needs for the company's future expansion.
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