Thrivent Financial for Lutherans Purchases New Shares in PTC Therapeutics, Inc. $PTCT

Thrivent Financial for Lutherans purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 55,169 shares of the biopharmaceutical company’s stock, valued at approximately $4,191,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PTCT. Empowered Funds LLC acquired a new position in shares of PTC Therapeutics in the 1st quarter valued at $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 period. Quantbot Technologies LP boosted its position in shares of 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 period. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $1,661,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of 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 period.

Insider Activity at PTC Therapeutics

In other news, Director Stephanie Okey sold 15,167 shares of the firm’s stock in a transaction dated 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 directly owned 8,000 shares of the company’s stock, valued at $560,000. This trade represents a 65.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Neil Gregory Almstead sold 52,003 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total value of $3,590,287.12. Following the sale, the insider directly owned 60,137 shares of the company’s stock, valued at $4,151,858.48. This trade represents a 46.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 115,022 shares of company stock worth $7,925,979. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Trading Down 1.4%

Shares of NASDAQ PTCT opened at $68.81 on Friday. PTC Therapeutics, Inc. has a one year low of $43.17 and a one year high of $87.50. The firm has a market capitalization of $5.71 billion, a PE ratio of -29.53, a PEG ratio of 13.01 and a beta of 0.53. The business has a 50-day moving average price of $69.00 and a two-hundred day moving average price of $72.41.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same period last year, the company posted $10.04 EPS. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. Research analysts anticipate that PTC Therapeutics, Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PTCT. Jefferies Financial Group lowered PTC Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $91.00 to $76.00 in a research report on Monday, March 30th. Bank of America decreased their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Raymond James Financial initiated coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective for the company. Finally, Weiss Ratings lowered PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.36.

PTC Therapeutics Company 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.