Charles Schwab Investment Management Inc. Trims Stake in PTC Therapeutics, Inc. $PTCT

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

Several other institutional investors and hedge funds have also bought and sold shares of PTCT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after buying an additional 205 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of PTC Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock valued at $360,000 after acquiring an additional 253 shares in the last quarter. Xponance Inc. raised its holdings in shares of PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock valued at $325,000 after acquiring an additional 314 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PTC Therapeutics by 84.2% in the 1st 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 in the last quarter. Finally, Diversified Trust Co raised its holdings in shares of PTC Therapeutics by 2.0% in the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock valued at $874,000 after acquiring an additional 329 shares in the last quarter.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded up $1.65 during trading hours 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. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 7.26 and a beta of 0.54. The firm has a 50-day simple moving average of $48.86 and a 200-day simple moving average of $49.04. PTC Therapeutics, Inc. has a 1 year low of $30.41 and a 1 year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping 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 business had revenue of $178.88 million for the quarter, compared to analysts' expectations of $173.01 million. During the same period in the previous year, the firm earned ($1.29) EPS. The business's quarterly revenue was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the transaction, the chief executive officer owned 337,767 shares in the company, valued at approximately $17,476,064.58. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pierre Gravier sold 2,516 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were 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 in the company, valued at $3,557,163.20. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a research note on Wednesday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $63.00 target price (up from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Cowen restated a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Wall Street Zen cut shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Truist Financial raised their price objective on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.15.

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.