LGL Partners LLC Has $684,000 Stock Position in PTC Therapeutics, Inc. $PTCT

LGL Partners LLC lowered its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 47.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,000 shares of the biopharmaceutical company’s stock after selling 8,067 shares during the quarter. PTC Therapeutics comprises 0.3% of LGL Partners LLC’s holdings, making the stock its 28th biggest position. LGL Partners LLC’s holdings in PTC Therapeutics were worth $684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PTCT. Jefferies Financial Group Inc. bought a new position in shares of PTC Therapeutics in the third quarter worth $97,252,000. SG Americas Securities LLC increased its position 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 purchasing an additional 764,364 shares during the period. State Street Corp increased its position 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 purchasing an additional 541,558 shares during the period. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after purchasing an additional 514,204 shares during the period. Finally, UBS Group AG increased its position in shares of PTC Therapeutics by 113.3% in the fourth quarter. UBS Group AG now owns 964,658 shares of the biopharmaceutical company’s stock worth $73,275,000 after purchasing an additional 512,449 shares during the period.

Insiders Place Their Bets

In related news, EVP Lee Scott Golden sold 829 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total value of $56,363.71. Following the sale, the executive vice president directly owned 79,115 shares in the company, valued at $5,379,028.85. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,022 shares of company stock valued at $7,925,979 over the last three months. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Raymond James Financial assumed coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $88.36.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $68.81 on Tuesday. The stock has a market cap of $5.71 billion, a P/E ratio of -29.53, a price-to-earnings-growth ratio of 12.83 and a beta of 0.53. The stock’s 50-day moving average is $69.10 and its 200-day moving average is $72.45. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same period in the prior year, the business posted $10.04 earnings per share. The firm’s revenue was up 43.5% on a year-over-year basis. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post 0.19 EPS 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.