PTC Therapeutics, Inc. $PTCT Stock Holdings Lifted by Profund Advisors LLC

Profund Advisors LLC lifted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 43.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,853 shares of the biopharmaceutical company’s stock after buying an additional 9,591 shares during the quarter. Profund Advisors LLC’s holdings in PTC Therapeutics were worth $2,420,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PTCT. Empowered Funds LLC bought a new position in shares of PTC Therapeutics in the 1st quarter worth about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in PTC Therapeutics by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after purchasing an additional 18,504 shares during the last quarter. Quantbot Technologies LP lifted its position in PTC Therapeutics by 280.1% in the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in PTC Therapeutics in the 2nd quarter valued at about $1,661,000. Finally, EverSource Wealth Advisors LLC lifted its position in PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares during the last quarter.

Wall Street Analyst Weigh In

PTCT has been the topic of several recent research reports. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $90.00 in a research report on Friday, May 8th. Weiss Ratings downgraded shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Jefferies Financial Group downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $91.00 to $76.00 in a research report on Monday, March 30th. Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.36.

PTC Therapeutics Price Performance

Shares of PTCT opened at $70.31 on Wednesday. The firm’s 50 day moving average is $68.86 and its 200-day moving average is $72.40. The stock has a market capitalization of $5.83 billion, a P/E ratio of -30.18, a P/E/G ratio of 13.08 and a beta of 0.53. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business’s revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.04 EPS. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Matthew B. Klein sold 12,572 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $72.95, for a total value of $917,127.40. Following the transaction, the chief executive officer owned 393,998 shares of the company’s stock, valued at $28,742,154.10. The trade was a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stephanie Okey sold 15,167 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the completion of the transaction, the director directly owned 8,000 shares in the company, valued at $560,000. This represents a 65.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 118,041 shares of company stock worth $8,135,739. 5.50% of the stock is owned by insiders.

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.