PTC Therapeutics, Inc. $PTCT Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lessened its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 82.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,326 shares of the biopharmaceutical company’s stock after selling 25,656 shares during the quarter. GSA Capital Partners LLP’s holdings in PTC Therapeutics were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 236 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PTC Therapeutics by 42.1% in the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 295 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 814 shares during the period. Exchange Traded Concepts LLC acquired a new stake in PTC Therapeutics during the 3rd quarter worth approximately $92,000. Finally, Globeflex Capital L P purchased a new position in PTC Therapeutics in the 2nd quarter valued at approximately $91,000.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $68.10 on Friday. The stock’s 50-day simple moving average is $74.39 and its 200-day simple moving average is $68.44. The firm has a market capitalization of $5.64 billion, a PE ratio of 8.80 and a beta of 0.48. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $281.45 million. During the same period last year, the company earned ($0.85) earnings per share. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $76.35, for a total transaction of $916,200.00. Following the transaction, the director 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 4,879 shares of PTC Therapeutics stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.44, for a total value of $377,829.76. Following the sale, the vice president owned 117,659 shares in the company, valued at $9,111,512.96. This trade represents a 3.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Royal Bank Of Canada cut their price target on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a report on Friday, February 20th. Barclays reiterated an “overweight” rating and issued a $120.00 price objective on shares of PTC Therapeutics in a research note on Monday. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Ten investment 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 data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $80.93.

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.