Burney Co. Takes Position in PTC Therapeutics, Inc. $PTCT

Key Points

• Burney Co. bought a new stake of 26,569 shares of PTC Therapeutics in Q4, valued at approximately $2.02 million.
• PTC reported a sizable quarterly miss with EPS $(1.67) versus $(0.21) expected and revenue of $164.7M versus $281.5M estimated, a 22.7% year‑over‑year decline in sales.
• Insiders have sold 123,642 shares totaling about $8.43M in the past 90 days (including large sales by Stephanie Okey and Neil Almstead, the latter under a Rule 10b5‑1 plan), leaving insiders with 5.5% ownership.

Burney Co. bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,569 shares of the biopharmaceutical company's stock, valued at approximately $2,018,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 236 shares during the period. Optiver Holding B.V. boosted its stake in shares of PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 249 shares during the period. IFP Advisors Inc boosted its stake in shares of PTC Therapeutics by 68.1% in the third 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 period. Arizona State Retirement System boosted its stake in shares of PTC Therapeutics by 2.0% in the third quarter. Arizona State Retirement System now owns 21,101 shares of the biopharmaceutical company's stock valued at $1,295,000 after purchasing an additional 406 shares during the period. Finally, Mariner LLC boosted its stake in shares of PTC Therapeutics by 5.1% in the third quarter. Mariner LLC now owns 8,745 shares of the biopharmaceutical company's stock valued at $537,000 after purchasing an additional 426 shares during the period.

Analyst Ratings Changes

Several brokerages have recently weighed in on PTCT. Cantor Fitzgerald restated an "overweight" rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Weiss Ratings restated a "hold (c)" rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Truist Financial upgraded shares of PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Morgan Stanley upped their target price on shares of PTC Therapeutics from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Finally, Jefferies Financial Group cut shares of PTC Therapeutics from a "buy" rating to a "hold" rating and cut their price target for the company from $91.00 to $76.00 in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.40.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, Director Stephanie Okey sold 15,167 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the sale, the director directly owned 8,000 shares of the company's stock, valued at approximately $560,000. This represents a 65.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Neil Gregory Almstead sold 52,003 shares of the 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 sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 123,642 shares of company stock valued at $8,432,528 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Price Performance

PTCT opened at $70.42 on Tuesday. The stock has a market capitalization of $5.83 billion, a PE ratio of 9.10 and a beta of 0.55. The firm's fifty day moving average price is $68.37 and its 200 day moving average price is $71.54. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The company had revenue of $164.68 million during the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The company's revenue was down 22.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.85) earnings per share. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 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.

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