Vanguard Group Inc. Has $668.69 Million Stock Position in PTC Therapeutics, Inc. $PTCT

Vanguard Group Inc. increased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,803,203 shares of the biopharmaceutical company’s stock after acquiring an additional 514,204 shares during the quarter. Vanguard Group Inc. owned about 0.11% of PTC Therapeutics worth $668,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PTCT. Jefferies Financial Group Inc. acquired a new position in shares of PTC Therapeutics in the third quarter worth approximately $97,252,000. SG Americas Securities LLC lifted its stake in shares of PTC Therapeutics by 587.5% in the fourth quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company’s stock worth $67,943,000 after acquiring an additional 764,364 shares during the period. State Street Corp lifted its stake in shares of PTC Therapeutics by 22.1% in the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock worth $146,347,000 after acquiring an additional 541,558 shares during the period. Palo Alto Investors LP lifted its stake in PTC Therapeutics by 112.2% in the third quarter. Palo Alto Investors LP now owns 862,613 shares of the biopharmaceutical company’s stock valued at $52,939,000 after buying an additional 456,144 shares during the period. Finally, Man Group plc lifted its stake in PTC Therapeutics by 157.4% in the second quarter. Man Group plc now owns 671,513 shares of the biopharmaceutical company’s stock valued at $32,797,000 after buying an additional 410,653 shares during the period.

Wall Street Analyst Weigh In

PTCT has been the topic of several recent analyst reports. Bank of America dropped their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Wall Street Zen lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Wells Fargo & Company dropped their price target on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Finally, Raymond James Financial initiated coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $84.40.

Insider Activity

In other news, Director Stephanie Okey sold 15,167 shares of the business’s 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 sale, the director owned 8,000 shares in the company, valued at $560,000. The trade was a 65.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Neil Gregory Almstead sold 52,003 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total value of $3,590,287.12. Following the sale, the insider owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. This represents a 46.37% 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. Over the last 90 days, insiders have sold 126,492 shares of company stock valued at $8,634,621. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $65.15 on Monday. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 8.42 and a beta of 0.53. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The business has a 50 day moving average price of $67.97 and a 200-day moving average price of $72.11.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The firm had revenue of $164.68 million for the quarter, compared to the consensus estimate of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The company’s revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.85) EPS. On average, equities research analysts anticipate that PTC Therapeutics, Inc. will post -0.74 earnings per share for the current year.

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.