PTC Therapeutics, Inc. $PTCT Stock Position Raised by State of Wyoming

State of Wyoming lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 204.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,870 shares of the biopharmaceutical company’s stock after purchasing an additional 7,297 shares during the period. State of Wyoming’s holdings in PTC Therapeutics were worth $667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 295 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 814 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $91,000. Plato Investment Management Ltd acquired a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $92,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of PTC Therapeutics in the 3rd quarter valued at approximately $92,000.

Insider Activity at PTC Therapeutics

In other news, Director Allan Steven Jacobson sold 14,199 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $83.55, for a total transaction of $1,186,326.45. Following the transaction, the director owned 17,451 shares in the company, valued at approximately $1,458,031.05. This trade represents a 44.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $76.35, for a total transaction of $916,200.00. Following the completion of the sale, the director owned 18,500 shares of the company’s stock, valued at $1,412,475. This represents a 39.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 291,016 shares of company stock worth $23,050,330 over the last quarter. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Trading Down 0.9%

PTCT opened at $74.88 on Tuesday. The stock has a fifty day moving average price of $77.00 and a 200 day moving average price of $65.90. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 8.75 and a beta of 0.48.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $1.39. The company had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned ($1.39) EPS. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PTCT shares. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada downgraded PTC Therapeutics from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $82.00 to $91.00 in a report on Monday, December 1st. Wall Street Zen raised PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Jefferies Financial Group raised their price objective on PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $90.00 target price on shares of PTC Therapeutics in a research note on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.67.

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.