Pictet Asset Management Holding SA Has $80.06 Million Stock Holdings in PTC Therapeutics, Inc. $PTCT

Pictet Asset Management Holding SA grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 20.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,183,720 shares of the biopharmaceutical company’s stock after buying an additional 204,763 shares during the period. Pictet Asset Management Holding SA’s holdings in PTC Therapeutics were worth $80,063,000 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. Allworth Financial LP grew its stake in shares of PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 247 shares in the last quarter. Measured Wealth Private Client Group LLC raised its stake in PTC Therapeutics by 5.6% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after purchasing an additional 265 shares in the last quarter. Evolve Private Wealth LLC raised its stake in PTC Therapeutics by 5.2% in the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 305 shares in the last quarter. IFP Advisors Inc boosted its holdings in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the period. Finally, Virtus Investment Advisers LLC boosted its holdings in PTC Therapeutics by 3.6% in the 4th quarter. Virtus Investment Advisers LLC now owns 9,033 shares of the biopharmaceutical company’s stock valued at $686,000 after purchasing an additional 316 shares during the period.

PTC Therapeutics Trading Down 3.4%

Shares of NASDAQ:PTCT opened at $81.57 on Tuesday. The firm has a 50 day moving average of $72.76 and a 200-day moving average of $72.14. The stock has a market capitalization of $6.77 billion, a PE ratio of -35.01, a PEG ratio of 3.88 and a beta of 0.55. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The company had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.04 EPS. On average, research analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Ratings Changes

PTCT has been the topic of several recent research reports. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Wells Fargo & Company raised their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have given 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 $91.36.

Insider Activity

In other PTC Therapeutics news, CAO Christine Marie Utter sold 19,686 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the completion of the sale, the chief accounting officer directly owned 70,199 shares in the company, valued at $5,304,236.44. This represents a 21.90% 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. Also, VP Mark Elliott Boulding sold 10,462 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $78.65, for a total value of $822,836.30. Following the completion of the sale, the vice president directly owned 105,272 shares in the company, valued at approximately $8,279,642.80. This represents a 9.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 178,328 shares of company stock valued at $13,487,625. Corporate insiders own 5.50% of the company’s stock.

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.