PTC Therapeutics, Inc. $PTCT Stock Position Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 30.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 978,957 shares of the biopharmaceutical company’s stock after selling 429,017 shares during the period. Pictet Asset Management Holding SA’s holdings in PTC Therapeutics were worth $74,789,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 236 shares during the last quarter. Optiver Holding B.V. grew its position in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares during the last quarter. Comerica Bank grew its position in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $41,000. Finally, First Horizon Corp bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $53,000.

Insider Buying and Selling at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 2,850 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $70.91, for a total transaction of $202,093.50. Following the completion of the sale, the chief executive officer directly owned 394,070 shares of the company’s stock, valued at $27,943,503.70. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the sale, the director directly owned 8,000 shares of the company’s stock, valued at approximately $560,000. This represents a 65.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 126,492 shares of company stock valued at $8,634,621. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PTCT shares. Cantor Fitzgerald restated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Jefferies Financial Group cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $91.00 to $76.00 in a research report on Monday, March 30th. Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.40.

PTC Therapeutics Price Performance

PTCT stock opened at $70.26 on Wednesday. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The firm has a market cap of $5.83 billion, a PE ratio of 9.08 and a beta of 0.55. The firm has a 50 day simple moving average of $68.15 and a 200 day simple moving average of $72.13.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. During the same period in the prior year, the company earned ($0.85) earnings per share. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post -0.74 earnings per share for the current year.

About PTC Therapeutics

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.