Federated Hermes Inc. Sells 9,468 Shares of PTC Therapeutics, Inc. $PTCT

Federated Hermes Inc. lowered its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 39.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,816 shares of the biopharmaceutical company’s stock after selling 9,468 shares during the period. Federated Hermes Inc.’s holdings in PTC Therapeutics were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in PTC Therapeutics in the 1st quarter valued at about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after acquiring an additional 18,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PTC Therapeutics by 16.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,062 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 423 shares in the last quarter. Inspire Investing LLC raised its position in shares of PTC Therapeutics by 15.4% during the second quarter. Inspire Investing LLC now owns 7,943 shares of the biopharmaceutical company’s stock worth $388,000 after purchasing an additional 1,061 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of PTC Therapeutics by 22.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,545 shares of the biopharmaceutical company’s stock worth $613,000 after purchasing an additional 2,258 shares in the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, insider Eric Pauwels sold 1,024 shares of PTC Therapeutics stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $78.70, for a total value of $80,588.80. Following the sale, the insider owned 80,141 shares of the company’s stock, valued at approximately $6,307,096.70. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lee Scott Golden sold 866 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $76.45, for a total transaction of $66,205.70. Following the completion of the transaction, the executive vice president owned 92,428 shares in the company, valued at approximately $7,066,120.60. The trade was a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 291,016 shares of company stock worth $23,050,330. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Trading Up 3.2%

Shares of PTCT opened at $74.68 on Friday. The stock has a 50 day moving average of $76.08 and a 200 day moving average of $66.38. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 8.72 and a beta of 0.48. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.19) by $1.39. The business had revenue of $211.01 million for the quarter, compared to analysts’ expectations 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 revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.39) earnings per share. As a group, equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on PTCT. Wall Street Zen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Jefferies Financial Group upped their target price on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Royal Bank Of Canada cut shares of PTC Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $82.00 to $91.00 in a research report on Monday, December 1st. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th. Finally, Barclays raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $119.00 in a research note on Tuesday, January 27th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

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.