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

Sector Gamma AS trimmed its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report) by 47.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 61,923 shares of the biopharmaceutical company’s stock after selling 56,189 shares during the period. Sector Gamma AS’s holdings in PTC Therapeutics were worth $4,704,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of PTCT. Empowered Funds LLC bought a new stake in PTC Therapeutics in the 1st quarter worth about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in PTC Therapeutics by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after buying an additional 18,504 shares in the last quarter. Quantbot Technologies LP increased its holdings in PTC Therapeutics by 280.1% in the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in PTC Therapeutics in the 2nd quarter worth about $1,661,000. Finally, EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 814 shares in the last quarter.

PTC Therapeutics Trading Up 1.9%

Shares of NASDAQ:PTCT opened at $74.71 on Friday. The stock has a 50 day moving average of $70.41 and a 200 day moving average of $72.15. The company has a market cap of $6.20 billion, a PE ratio of -32.06, a price-to-earnings-growth ratio of 5.04 and a beta of 0.56. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last announced 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. The company had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm’s revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the company posted $10.04 EPS. Equities research analysts predict that PTC Therapeutics, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Mark Elliott Boulding sold 3,540 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $78.97, for a total value of $279,553.80. Following the transaction, the vice president directly owned 105,212 shares of the company’s stock, valued at approximately $8,308,591.64. The trade was a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 393,998 shares in the company, valued at approximately $28,742,154.10. This represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders have sold 76,871 shares of company stock valued at $5,405,700. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PTCT shares. Royal Bank Of Canada lifted their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Finally, Wall Street Zen downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $91.36.

Get Our Latest Stock Analysis on PTCT

PTC Therapeutics Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report).

Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.