Sector Gamma AS Sells 56,189 Shares of PTC Therapeutics, Inc. $PTCT

Sector Gamma AS decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 47.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 61,923 shares of the biopharmaceutical company’s stock after selling 56,189 shares during the period. Sector Gamma AS owned about 0.08% of PTC Therapeutics worth $4,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of PTC Therapeutics by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after purchasing an additional 514,204 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of PTC Therapeutics by 4.8% in the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after purchasing an additional 224,481 shares during the last quarter. State Street Corp grew its holdings in shares of PTC Therapeutics by 22.1% in the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock worth $146,347,000 after purchasing an additional 541,558 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PTC Therapeutics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,016,062 shares of the biopharmaceutical company’s stock worth $153,164,000 after purchasing an additional 65,184 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of PTC Therapeutics by 4.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,658,481 shares of the biopharmaceutical company’s stock worth $125,978,000 after purchasing an additional 73,803 shares during the last quarter.

Insider Buying and Selling

In other news, insider Neil Gregory Almstead sold 52,003 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider directly owned 60,137 shares in the company, valued at $4,151,858.48. This trade represents a 46.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total value of $56,363.71. Following the transaction, the executive vice president owned 79,115 shares of the company’s stock, valued at $5,379,028.85. The trade was a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold 76,871 shares of company stock valued at $5,405,700 over the last ninety days. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Up 1.9%

Shares of PTC Therapeutics stock opened at $74.71 on Friday. The firm has a market capitalization of $6.20 billion, a P/E ratio of -32.06, a P/E/G ratio of 5.04 and a beta of 0.56. The business has a fifty day simple moving average of $70.41 and a two-hundred day simple moving average of $72.15. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $217.42 million. During the same quarter last year, the firm posted $10.04 earnings per share. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. Analysts predict that PTC Therapeutics, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PTCT has been the topic of several recent analyst reports. Barclays restated an “overweight” rating and issued a $120.00 target price on shares of PTC Therapeutics in a report on Monday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Wells Fargo & Company raised their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Bank of America dropped their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.36.

About PTC Therapeutics

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.