PTC Therapeutics, Inc. $PTCT Stake Lowered by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.3% during the third quarter, HoldingsChannel reports. The fund owned 8,288,999 shares of the biopharmaceutical company’s stock after selling 558,468 shares during the quarter. Vanguard Group Inc. owned about 0.10% of PTC Therapeutics worth $508,696,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its position in PTC Therapeutics by 5.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 43,480 shares of the biopharmaceutical company’s stock valued at $2,668,000 after purchasing an additional 2,104 shares during the last quarter. LSV Asset Management acquired a new stake in shares of PTC Therapeutics during the 3rd quarter valued at about $166,000. Profund Advisors LLC grew its stake in shares of PTC Therapeutics by 6.8% in the 3rd quarter. Profund Advisors LLC now owns 22,262 shares of the biopharmaceutical company’s stock valued at $1,366,000 after buying an additional 1,420 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 236 shares during the last quarter. Finally, Savant Capital LLC raised its position in PTC Therapeutics by 8.6% during the third quarter. Savant Capital LLC now owns 8,992 shares of the biopharmaceutical company’s stock valued at $552,000 after acquiring an additional 711 shares in the last quarter.

PTC Therapeutics Price Performance

PTCT stock opened at $67.76 on Thursday. PTC Therapeutics, Inc. has a 52-week low of $35.95 and a 52-week high of $87.50. The company has a 50-day moving average of $74.52 and a two-hundred day moving average of $68.44. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 8.75 and a beta of 0.48.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The business had revenue of $164.68 million during the quarter, compared to the consensus estimate of $281.45 million. During the same quarter in the previous year, the firm posted ($0.85) earnings per share. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. Equities analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew B. Klein sold 8,089 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $76.64, for a total transaction of $619,940.96. Following the completion of the transaction, the chief executive officer directly owned 341,875 shares in the company, valued at $26,201,300. This represents a 2.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $76.35, for a total transaction of $916,200.00. Following the completion of the sale, the director directly owned 18,500 shares of the company’s stock, valued at approximately $1,412,475. This trade represents a 39.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 167,765 shares of company stock valued at $12,617,737. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Wells Fargo & Company reduced their price objective on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Citigroup upped their price objective on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Ten 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. According to MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $80.93.

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.