131,389 Shares in PTC Therapeutics, Inc. $PTCT Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 131,389 shares of the biopharmaceutical company’s stock, valued at approximately $10,758,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at $26,000. Comerica Bank increased its position in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the period. Allworth Financial LP increased its position 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 purchasing an additional 247 shares during the period. IFP Advisors Inc raised its stake in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in PTC Therapeutics by 96.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 921 shares of the biopharmaceutical company’s stock valued at $70,000 after purchasing an additional 452 shares in the last quarter.

Insiders Place Their Bets

In other PTC Therapeutics news, Director Michael Schmertzler sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $73.32, for a total value of $916,500.00. Following the sale, the director owned 1,374,094 shares in the company, valued at $100,748,572.08. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Pauwels sold 21,277 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the sale, the insider directly owned 73,411 shares in the company, valued at approximately $5,505,825. The trade was a 22.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,843 shares of company stock worth $17,686,454 over the last 90 days. Insiders own 5.30% of the company’s stock.

PTC Therapeutics Trading Down 2.4%

PTCT stock opened at $70.09 on Friday. The stock has a market capitalization of $5.85 billion, a P/E ratio of -120.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.56. PTC Therapeutics, Inc. has a 12 month low of $48.96 and a 12 month high of $90.87. The firm has a 50-day moving average price of $77.08 and a 200-day moving average price of $72.27.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 101.5% compared to the same quarter last year. During the same period last year, the company posted ($0.83) EPS. As a group, equities analysts predict that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PTCT shares. Weiss Ratings downgraded shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Morgan Stanley upped their price target on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Finally, Cantor Fitzgerald boosted their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.55.

PTC Therapeutics Profile

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.