PTC Therapeutics, Inc. $PTCT Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,421 shares of the biopharmaceutical company’s stock after selling 7,515 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of PTC Therapeutics worth $2,890,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PTCT. Empowered Funds LLC acquired a new position in shares of PTC Therapeutics in the 1st quarter worth approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 raised its position in PTC Therapeutics by 280.1% in the second 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 purchased a new stake in PTC Therapeutics in the second quarter valued at approximately $1,661,000. Finally, EverSource Wealth Advisors LLC raised its position in PTC Therapeutics by 247.4% in the second 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.

Analyst Ratings Changes

PTCT has been the subject of several research analyst reports. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Raymond James Financial started coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Royal Bank Of Canada lifted their target price on PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $92.43.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $78.59 on Monday. The company has a fifty day simple moving average of $76.77 and a two-hundred day simple moving average of $72.76. The company has a market cap of $6.52 billion, a price-to-earnings ratio of -33.73, a price-to-earnings-growth ratio of 4.72 and a beta of 0.53. PTC Therapeutics, Inc. has a 52 week low of $43.17 and a 52 week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.PTC Therapeutics’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter last year, the company earned $10.04 EPS. On average, analysts expect that PTC Therapeutics, Inc. will post 0.6 EPS for the current year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Mary L. Smith sold 15,834 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the sale, the director directly owned 21,813 shares of the company’s stock, valued at approximately $1,963,170. This represents a 42.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 5,079 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $85.08, for a total transaction of $432,121.32. Following the completion of the sale, the vice president owned 105,272 shares in the company, valued at $8,956,541.76. The trade was a 4.60% decrease in their ownership of the stock. 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. Insiders have sold a total of 201,512 shares of company stock valued at $16,550,087 over the last 90 days. 5.50% of the stock is owned by corporate 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.