PTC Therapeutics, Inc. $PTCT Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. decreased its stake in PTC Therapeutics by 3.4% in Q1, owning 662,074 shares worth approximately $33.7 million after selling 23,635 shares.
• Recent analyst ratings show mixed opinions with Citigroup raising the target price to $50 while JPMorgan lowered it to $67, reflecting a consensus rating of "Moderate Buy".
• CEO Matthew B. Klein sold over 10,700 shares at an average price of $51.74, reducing his ownership by 3.08% as insiders collectively hold 5.50% of the company.

Charles Schwab Investment Management Inc. reduced its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 662,074 shares of the biopharmaceutical company's stock after selling 23,635 shares during the period. Charles Schwab Investment Management Inc. owned 0.84% of PTC Therapeutics worth $33,739,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PTCT. Sterling Capital Management LLC increased its stake in PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC boosted its holdings in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 441 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $77,000.

Wall Street Analyst Weigh In

PTCT has been the subject of several research analyst reports. Cantor Fitzgerald increased their price objective on PTC Therapeutics from $112.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Truist Financial increased their price target on PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Barclays increased their price target on PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Wells Fargo & Company decreased their price target on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.15.

PTC Therapeutics Stock Performance

PTC Therapeutics stock traded up $1.65 during midday trading on Friday, reaching $50.57. The company's stock had a trading volume of 1,050,679 shares, compared to its average volume of 1,532,044. PTC Therapeutics, Inc. has a fifty-two week low of $30.41 and a fifty-two week high of $58.38. The stock's 50 day simple moving average is $48.86 and its 200 day simple moving average is $49.03. The firm has a market capitalization of $4.02 billion, a PE ratio of 7.26 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The company had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. During the same quarter last year, the company earned ($1.29) earnings per share. PTC Therapeutics's quarterly revenue was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the transaction, the chief financial officer owned 71,920 shares of the company's stock, valued at $3,557,163.20. The trade was a 3.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Matthew B. Klein sold 10,739 shares of PTC Therapeutics stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the transaction, the chief executive officer directly owned 337,767 shares of the company's stock, valued at $17,476,064.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.