PTC Therapeutics, Inc. $PTCT Shares Purchased by Private Capital Advisors Inc.

Private Capital Advisors Inc. lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 81.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,113 shares of the biopharmaceutical company’s stock after purchasing an additional 13,051 shares during the period. Private Capital Advisors Inc.’s holdings in PTC Therapeutics were worth $2,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares in the last quarter. Optiver Holding B.V. increased its position in shares of PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares in the last quarter. Comerica Bank increased its position in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth about $41,000. Finally, IFP Advisors Inc increased its position in shares of PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 310 shares in the last quarter.

Insider Activity

In related 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 transaction, the director owned 8,000 shares of the company’s stock, valued at $560,000. This trade represents a 65.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lee Scott Golden sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $63.38, for a total value of $633,800.00. Following the transaction, the executive vice president directly owned 79,944 shares in the company, valued at approximately $5,066,850.72. This represents a 11.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 115,022 shares of company stock valued at $7,925,979. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of research analyst reports. Barclays reiterated an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research report on Monday, February 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Morgan Stanley reiterated an “overweight” rating and set a $94.00 target price on shares of PTC Therapeutics in a research report on Friday, May 8th. Finally, Jefferies Financial Group cut PTC Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $91.00 to $76.00 in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.36.

PTC Therapeutics Stock Down 1.4%

NASDAQ PTCT opened at $68.81 on Friday. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50. The business’s 50-day moving average price is $69.00 and its 200 day moving average price is $72.41. The firm has a market cap of $5.71 billion, a P/E ratio of -29.53, a P/E/G ratio of 12.83 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (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 for the quarter, compared to analyst estimates of $217.42 million. During the same quarter last year, the company posted $10.04 earnings per share. The business’s revenue was up 43.5% on a year-over-year basis. As a group, analysts anticipate that PTC Therapeutics, Inc. will post 0.19 earnings per share for the current year.

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.