Stoke Therapeutics
STOK on Nasdaq. Pharmaceutical preparations. Market value $1.6bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-11.49 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -86 cents a year. Above 10 is good.
Quality score: 44 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$24.37 a share, 20% above its 1-year low
Over the past year the price has ranged from $20.32 to $40.22.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $181 million in the past 12 months, $45 million in the year to December 2025.
| Revenue | |||||
| Revenue | n/a | $12m | $9m | $37m | $184m |
| Operating margin | |||||
| Operating margin | n/a | -841.2% | -1307.2% | -277.3% | -11.2% |
| Debt to equity | |||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares outstanding | |||||
| Shares outstanding | 0.04bn | 0.04bn | 0.05bn | 0.06bn | 0.06bn |
Health checks
- Free cash flow positive1 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)3 of 8 checks we could run
- Profit backed by cash (accruals)No
- Debt0.00× equity
- Revenue growth, five yearsStrong, 145.8% a year
- Buying back its own sharesNo, 64% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $9 million last quarter, down 33% on a year ago.
- A loss of $62 million, compared with a loss of $23 million a year ago.
- It loses 810 cents on each $1 of sales, after keeping 20 cents a year earlier.
- Over the past 12 months it spent $181 million more cash than it brought in. A year earlier it had $61 million spare.
- 13% more shares than a year ago. Each share owns a bit less of the company.
- It has $110 million more cash than debt, up from $101 million a year ago.
- Sales grew on a year ago in 1 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $5m |
| December 2024 | $23m |
| March 2025 | $159m |
| June 2025 | $14m |
| September 2025 | $11m |
| December 2025 | $1m |
| March 2026 | $6m |
| June 2026 | $9m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$26m |
| December 2024 | -$10m |
| March 2025 | $113m |
| June 2025 | -$23m |
| September 2025 | -$38m |
| December 2025 | -$58m |
| March 2026 | -$50m |
| June 2026 | -$62m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 16 March 2026
- Next quarterly (estimated, 10-Q)
- 2 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 198 funds in all.
- Platinum Investment ManagementPlatinum team
- Value
- $1m
- Share of fund
- 0.3%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Platinum Investment ManagementPlatinum team | $1m | 0.3% |
Largest holders overall
- BlackRock$192mAdded
- RTW Investments, LP$184m
- FMR$174m
- Lynx1 Capital Management LP$132mCut
- Redmile Group$129mCut
- Wellington Management Group LLP$115mAdded
- Morgan Stanley$113m
- Baker Bros. Advisors LP$109m
- Toronto Dominion Bank$104m
- State Street$93mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
12 investors own more than 5%.
- Montrago Trustees LimitedPassive investorat least 13.0%(filed with 2 related holders)Since 23 December 2024
What they said
Item 4 is hereby amended and supplemented by adding the following: On December 23, 2024, Blue Horizon sold 2,000,000 Shares of the Issuer in an open market transaction at a price of $11.50 per share.
Read the filing - Roderick Wong, M.D.Passive investor10.0%Since 31 December 2024
- RTW Investments, LPPassive investorat least 9.9%−0.1 pts(filed with 1 related holder)Since 31 March 2026
- FMR LLCPassive investorat least 8.5%−1.3 pts(filed with 1 related holder)Since 30 June 2026
- BlackRock, Inc.Passive investor6.8%+1.0 ptsSince 30 September 2025
- Redmile Group, LLCPassive investorat least 6.7%−1.3 pts(filed with 2 related holders)Since 31 March 2026
- Lynx1 Capital Management LPPassive investorat least 6.5%−1.6 pts(filed with 1 related holder)Since 30 June 2026
- Morgan StanleyPassive investorat least 6.5%(filed with 1 related holder)Since 31 December 2024
- Baker Bros. Advisors LPPassive investorat least 5.8%(filed with 3 related holders)Since 31 December 2025
- BVF PARTNERS L P/ILPassive investorat least 5.6%(filed with 9 related holders)Since 23 September 2026
- Wellington Management Group LLPPassive investorat least 5.2%(filed with 3 related holders)Since 31 March 2026
- Skorpios TrustPassive investorat least 4.1%−1.9 pts(filed with 3 related holders)Since 22 August 2025
What they said
Item 4 is hereby amended and supplemented by adding the following: On August 22, 2025, Blue Horizon sold 1,000,000 Shares of the Issuer in an open market transaction at a price of $18.50 per share.
Read the filing - The Toronto-Dominion BankPassive investorSold down below 5%Since 30 June 2026
- BlackRock Portfolio Management LLCPassive investorSold down below 5%Since 30 June 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- Cowen Financial Products LLCPassive investorSold down below 5%Since 30 September 2025
| Holder | Stake | Since | |
|---|---|---|---|
Montrago Trustees Limited Passive investor | at least 13.0% (filed with 2 related holders) | 23 December 2024 | What they saidItem 4 is hereby amended and supplemented by adding the following: On December 23, 2024, Blue Horizon sold 2,000,000 Shares of the Issuer in an open market transaction at a price of $11.50 per share. Read the filing |
Roderick Wong, M.D. Passive investor | 10.0% | 31 December 2024 | |
RTW Investments, LP Passive investor | at least 9.9%−0.1 pts (filed with 1 related holder) | 31 March 2026 | |
FMR LLC Passive investor | at least 8.5%−1.3 pts (filed with 1 related holder) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 6.8%+1.0 pts | 30 September 2025 | |
Redmile Group, LLC Passive investor | at least 6.7%−1.3 pts (filed with 2 related holders) | 31 March 2026 | |
Lynx1 Capital Management LP Passive investor | at least 6.5%−1.6 pts (filed with 1 related holder) | 30 June 2026 | |
Morgan Stanley Passive investor | at least 6.5% (filed with 1 related holder) | 31 December 2024 | |
Baker Bros. Advisors LP Passive investor | at least 5.8% (filed with 3 related holders) | 31 December 2025 | |
BVF PARTNERS L P/IL Passive investor | at least 5.6% (filed with 9 related holders) | 23 September 2026 | |
Wellington Management Group LLP Passive investor | at least 5.2% (filed with 3 related holders) | 31 March 2026 | |
Skorpios Trust Passive investor | at least 4.1%−1.9 pts (filed with 3 related holders) | 22 August 2025 | What they saidItem 4 is hereby amended and supplemented by adding the following: On August 22, 2025, Blue Horizon sold 1,000,000 Shares of the Issuer in an open market transaction at a price of $18.50 per share. Read the filing |
The Toronto-Dominion Bank Passive investor | Sold down below 5% | 30 June 2026 | |
BlackRock Portfolio Management LLC Passive investor | Sold down below 5% | 30 June 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
Cowen Financial Products LLC Passive investor | Sold down below 5% | 30 September 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 8 sold $10m, $8m of it under preset trading plans.
- Allan JonathanGENERAL COUNSEL & CORP SECSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 627
- Price
- $26.33
- Value
- $16,509
- Ticho BarryCHIEF MEDICAL OFFICERSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 1,051
- Price
- $26.16
- Value
- $27,494
- Ticho BarryCHIEF MEDICAL OFFICERSoldunder a preset trading plan
- Date
- 1 September 2026
- Shares
- 5,545
- Price
- $30.67
- Value
- $170,061
- Allan JonathanGENERAL COUNSEL & CORP SECSold
- Date
- 18 August 2026
- Shares
- 2,861
- Price
- $32.03
- Value
- $91,639
- Ticho BarryCHIEF MEDICAL OFFICERSold
- Date
- 18 August 2026
- Shares
- 4,767
- Price
- $32.03
- Value
- $152,690
- Kaye Edward M. MDDirectorSold
- Date
- 18 August 2026
- Shares
- 12,567
- Price
- $32.03
- Value
- $402,528
- Ticho BarryCHIEF MEDICAL OFFICERSoldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 7,176
- Price
- $29.04
- Value
- $208,385
- Ticho BarryCHIEF MEDICAL OFFICERSoldunder a preset trading plan
- Date
- 1 July 2026
- Shares
- 7,228
- Price
- $32.66
- Value
- $236,068
- Allan JonathanGENERAL COUNSEL & CORP SECSoldunder a preset trading plan
- Date
- 16 June 2026
- Shares
- 1,457
- Price
- $29.95
- Value
- $43,637
- Ticho BarryCHIEF MEDICAL OFFICERSoldunder a preset trading plan
- Date
- 1 June 2026
- Shares
- 1,795
- Price
- $30.58
- Value
- $54,891
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 2 October 2026 | Allan Jonathan GENERAL COUNSEL & CORP SEC | Sold under a preset trading plan | 627 | $26.33 | $16,509 |
| 1 October 2026 | Ticho Barry CHIEF MEDICAL OFFICER | Sold under a preset trading plan | 1,051 | $26.16 | $27,494 |
| 1 September 2026 | Ticho Barry CHIEF MEDICAL OFFICER | Sold under a preset trading plan | 5,545 | $30.67 | $170,061 |
| 18 August 2026 | Allan Jonathan GENERAL COUNSEL & CORP SEC | Sold | 2,861 | $32.03 | $91,639 |
| 18 August 2026 | Ticho Barry CHIEF MEDICAL OFFICER | Sold | 4,767 | $32.03 | $152,690 |
| 18 August 2026 | Kaye Edward M. MD Director | Sold | 12,567 | $32.03 | $402,528 |
| 3 August 2026 | Ticho Barry CHIEF MEDICAL OFFICER | Sold under a preset trading plan | 7,176 | $29.04 | $208,385 |
| 1 July 2026 | Ticho Barry CHIEF MEDICAL OFFICER | Sold under a preset trading plan | 7,228 | $32.66 | $236,068 |
| 16 June 2026 | Allan Jonathan GENERAL COUNSEL & CORP SEC | Sold under a preset trading plan | 1,457 | $29.95 | $43,637 |
| 1 June 2026 | Ticho Barry CHIEF MEDICAL OFFICER | Sold under a preset trading plan | 1,795 | $30.58 | $54,891 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.