PTC Therapeutics, Inc. $PTCT Stock Position Decreased by Burney Co.

Burney Co. lowered its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 41.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,612 shares of the biopharmaceutical company’s stock after selling 10,957 shares during the period. Burney Co.’s holdings in PTC Therapeutics were worth $1,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $26,000. Comerica Bank grew its stake in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in PTC Therapeutics in the fourth quarter worth $41,000. Allworth Financial LP increased its position in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the period. Finally, First Horizon Corp bought a new stake in PTC Therapeutics in the fourth quarter valued at $53,000.

PTC Therapeutics Stock Down 0.7%

Shares of NASDAQ PTCT opened at $88.57 on Thursday. The stock has a market cap of $7.35 billion, a P/E ratio of -38.01, a P/E/G ratio of 4.10 and a beta of 0.53. The firm’s 50-day simple moving average is $74.77 and its 200 day simple moving average is $72.61. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $89.85.

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 analysts’ consensus estimates 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 firm had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same quarter in the prior year, the firm posted $10.04 EPS. PTC Therapeutics’s revenue was up 43.5% compared to the same quarter last year. On average, sell-side analysts anticipate that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Christine Marie Utter sold 19,686 shares of PTC Therapeutics stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the transaction, the chief accounting officer directly owned 70,199 shares in the company, valued at approximately $5,304,236.44. This trade represents a 21.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Pauwels sold 21,277 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the completion of the transaction, the insider owned 73,411 shares in the company, valued at approximately $5,505,825. This trade represents a 22.47% decrease in their position. 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. Insiders sold a total of 183,214 shares of company stock worth $14,902,651 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PTCT shares. Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective on the stock. Weiss Ratings lowered shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Morgan Stanley restated an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.57.

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.