Vise Technologies Inc. Acquires Shares of 8,560 PTC Therapeutics, Inc. $PTCT

Vise Technologies Inc. acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,560 shares of the biopharmaceutical company’s stock, valued at approximately $698,000.

A number of other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of PTC Therapeutics by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 151 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of PTC Therapeutics by 8.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 244 shares during the last quarter. Allworth Financial LP increased its stake in shares of PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the last quarter. Measured Wealth Private Client Group LLC raised its holdings in PTC Therapeutics by 5.6% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 265 shares in the last quarter. Finally, Evolve Private Wealth LLC raised its holdings in PTC Therapeutics by 5.2% in the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock valued at $417,000 after acquiring an additional 305 shares in the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Zacks Research lowered shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Weiss Ratings cut shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Morgan Stanley increased their price target on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

Insiders Place Their Bets

In related news, CAO Christine Marie Utter sold 19,686 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the sale, the chief accounting officer owned 70,199 shares in the company, valued at $5,304,236.44. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 24,613 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total transaction of $2,187,849.57. Following the completion of the transaction, the insider directly owned 60,299 shares in the company, valued at $5,359,978.11. This represents a 28.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 205,343 shares of company stock worth $16,774,704. Corporate insiders own 5.30% of the company’s stock.

PTC Therapeutics Price Performance

Shares of PTCT opened at $69.82 on Monday. The stock has a market capitalization of $5.83 billion, a PE ratio of -120.38, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. The business’s fifty day moving average price is $77.62 and its 200 day moving average price is $72.34. PTC Therapeutics, Inc. has a 12-month low of $48.28 and a 12-month high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.83) earnings per share. As a group, research analysts anticipate that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.