Stoke Therapeutics, Inc. (STOK) experienced a sharp decline of 5.62% during intraday trading on Tuesday, as investors reacted to a weak earnings outlook.
In a pre-market earnings preview, the company's fourth-quarter results were forecast to show a loss of 70 cents per share, a significant deterioration from the loss of 18 cents per share reported in the prior-year period. The adjusted loss is projected to be 77 cents per share.
This negative forecast appeared to outweigh a separate pre-market announcement that Needham had raised its price target on Stoke Therapeutics from $35 to $40.
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