PTC Therapeutics, Inc. $PTCT Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 14.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 405,536 shares of the biopharmaceutical company’s stock after selling 68,222 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.49% of PTC Therapeutics worth $30,805,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of PTC Therapeutics in the first quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in PTC Therapeutics by 11.5% during the 1st 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 during the last quarter. Quantbot Technologies LP boosted its stake in PTC Therapeutics by 280.1% during the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in PTC Therapeutics during the 2nd quarter worth $1,661,000. Finally, EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 814 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PTCT shares. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Royal Bank Of Canada upped their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $78.98 on Monday. The firm has a market capitalization of $6.55 billion, a PE ratio of -33.90, a price-to-earnings-growth ratio of 3.63 and a beta of 0.55. The stock has a 50 day moving average of $71.37 and a 200-day moving average of $71.88. PTC Therapeutics, Inc. has a 52 week low of $43.17 and a 52 week high of $87.50.

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

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, insider Eric Pauwels sold 21,277 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total value of $1,595,775.00. Following the sale, the insider directly owned 73,411 shares in the company, valued at approximately $5,505,825. This trade represents a 22.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 52,003 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the transaction, the insider owned 60,137 shares of the company’s stock, valued at $4,151,858.48. This represents a 46.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,148 shares of company stock valued at $7,001,475 over the last three months. 5.50% of the stock is currently owned by company insiders.

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.