Wellington Management Group LLP Increases Stock Holdings in PTC Therapeutics, Inc. $PTCT

Wellington Management Group LLP boosted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 4,128,273 shares of the biopharmaceutical company’s stock after buying an additional 185,663 shares during the period. Wellington Management Group LLP’s holdings in PTC Therapeutics were worth $336,743,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. UMB Bank n.a. acquired a new position in PTC Therapeutics during the fourth quarter worth approximately $26,000. Comerica Bank grew its position in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 469 shares during the period. IFP Advisors Inc increased its stake in PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 310 shares during the last quarter. Allworth Financial LP lifted its stake in shares of PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 814 shares during the period.

Insider Activity

In other news, Director Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $72.94, for a total value of $911,750.00. Following the completion of the transaction, the director directly owned 1,349,094 shares of the company’s stock, valued at approximately $98,402,916.36. The trade was a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 2,813 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $72.57, for a total transaction of $204,139.41. Following the sale, the vice president directly owned 105,272 shares of the company’s stock, valued at approximately $7,639,589.04. This represents a 2.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,843 shares of company stock valued at $17,686,454 over the last quarter. 5.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PTCT shares. Weiss Ratings downgraded shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Royal Bank Of Canada lifted their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Wall Street Zen lowered PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Cantor Fitzgerald upped their target price on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $70.09 on Monday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of -120.84, a PEG ratio of 2.16 and a beta of 0.56. The stock has a 50 day moving average of $77.08 and a 200-day moving average of $72.26. PTC Therapeutics, Inc. has a 52 week low of $48.96 and a 52 week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The business had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. During the same period in the prior year, the company posted ($0.83) EPS. The business’s revenue was up 101.5% compared to the same quarter last year. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post 1.17 earnings per share 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.