PTC Therapeutics, Inc. $PTCT Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,016,062 shares of the biopharmaceutical company’s stock after buying an additional 65,184 shares during the quarter. Geode Capital Management LLC’s holdings in PTC Therapeutics were worth $153,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after buying an additional 514,204 shares during the period. Wellington Management Group LLP grew its position in PTC Therapeutics by 4.8% during the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock valued at $301,856,000 after buying an additional 224,481 shares during the period. State Street Corp grew its position in PTC Therapeutics by 22.1% during the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock valued at $146,347,000 after buying an additional 541,558 shares during the period. Jefferies Financial Group Inc. grew its position in PTC Therapeutics by 4.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,658,481 shares of the biopharmaceutical company’s stock valued at $125,978,000 after buying an additional 73,803 shares during the period. Finally, UBS Group AG grew its position in PTC Therapeutics by 113.3% during the fourth quarter. UBS Group AG now owns 964,658 shares of the biopharmaceutical company’s stock valued at $73,275,000 after buying an additional 512,449 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PTCT. Bank of America dropped their price target on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

Insider Activity

In related news, insider Neil Gregory Almstead sold 52,003 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the transaction, the insider directly owned 60,137 shares in the company, valued at approximately $4,151,858.48. The trade was a 46.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lee Scott Golden sold 829 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total transaction of $56,363.71. Following the transaction, the executive vice president owned 79,115 shares in the company, valued at $5,379,028.85. The trade was a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 94,700 shares of company stock valued at $6,637,971 in the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Stock Up 2.9%

Shares of NASDAQ PTCT opened at $70.64 on Friday. The company’s 50-day simple moving average is $69.82 and its 200-day simple moving average is $72.28. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -30.32, a price-to-earnings-growth ratio of 6.23 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same quarter last year, the business earned $10.04 earnings per share. The company’s revenue for the quarter was up 43.5% compared to the same quarter last year. Equities research analysts anticipate that PTC Therapeutics, Inc. will post 0.4 EPS for the current fiscal year.

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.