Los Angeles Capital Management LLC reduced its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT – Free Report) by 31.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,421 shares of the biopharmaceutical company’s stock after selling 15,026 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PTC Therapeutics were worth $2,463,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of PTC Therapeutics by 86.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock worth $3,103,000 after acquiring an additional 19,000 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $4,191,000. Jefferies Financial Group Inc. bought a new position in shares of PTC Therapeutics during the 3rd quarter worth approximately $97,252,000. Ritholtz Wealth Management bought a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $1,863,000. Finally, Comerica Bank boosted its stake in shares of PTC Therapeutics by 3,231.9% during the 4th quarter. Comerica Bank now owns 17,426 shares of the biopharmaceutical company’s stock worth $1,324,000 after acquiring an additional 16,903 shares during the period.
PTC Therapeutics Price Performance
Shares of NASDAQ PTCT opened at $73.68 on Wednesday. The stock has a market capitalization of $6.11 billion, a PE ratio of -31.62, a P/E/G ratio of 5.98 and a beta of 0.56. The business has a fifty day moving average price of $70.13 and a two-hundred day moving average price of $72.20. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $87.50.
Insider Buying and Selling
In related news, VP Mark Elliott Boulding sold 3,540 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $78.97, for a total transaction of $279,553.80. Following the completion of the sale, the vice president directly owned 105,212 shares in the company, valued at $8,308,591.64. This represents a 3.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 12,572 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $72.95, for a total value of $917,127.40. Following the sale, the chief executive officer owned 393,998 shares of the company’s stock, valued at approximately $28,742,154.10. This represents a 3.09% 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 sold 79,533 shares of company stock valued at $5,576,281 over the last 90 days. 5.50% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research firms recently issued reports on PTCT. Wall Street Zen downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $90.00 in a research note on Friday, May 8th. 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. Royal Bank Of Canada boosted their price target 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, Raymond James Financial began coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.
Check Out Our Latest Research Report on PTC Therapeutics
PTC Therapeutics Company 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.
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