Pacer Advisors Inc. Has $17.90 Million Stock Holdings in PTC Therapeutics, Inc. $PTCT

Pacer Advisors Inc. trimmed its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 53.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,653 shares of the biopharmaceutical company’s stock after selling 268,313 shares during the period. Pacer Advisors Inc.’s holdings in PTC Therapeutics were worth $17,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in PTC Therapeutics by 63.8% during 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 last quarter. Optiver Holding B.V. raised its holdings in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the last quarter. Measured Wealth Private Client Group LLC lifted its position in PTC Therapeutics by 5.6% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 265 shares in the last quarter. IFP Advisors Inc boosted its stake in PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the last quarter. Finally, Virtus Investment Advisers LLC boosted its stake in PTC Therapeutics by 3.6% during the 4th quarter. Virtus Investment Advisers LLC now owns 9,033 shares of the biopharmaceutical company’s stock valued at $686,000 after purchasing an additional 316 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Matthew B. Klein sold 12,572 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $72.95, for a total transaction of $917,127.40. Following the completion of the transaction, the chief executive officer owned 393,998 shares of the company’s stock, valued at approximately $28,742,154.10. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, insider Eric Pauwels sold 21,277 shares of the 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 sale, the insider owned 73,411 shares in the company, valued at $5,505,825. This represents a 22.47% 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. Insiders sold 98,148 shares of company stock valued at $7,001,475 in the last three months. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Wells Fargo & Company increased their price target on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Royal Bank Of Canada raised 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. Finally, Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.36.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $78.98 on Friday. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $87.50. The stock’s fifty day moving average price is $71.37 and its two-hundred day moving average price is $71.93. The company has a market cap of $6.55 billion, a P/E ratio of -33.90, a P/E/G ratio of 3.63 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data 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 return on equity of 362.45% and a negative net margin of 22.58%.The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same period in the previous year, the company posted $10.04 EPS. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, analysts expect that PTC Therapeutics, Inc. will post 0.78 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.