Financiere des Professionnels Fonds d investissement inc. Buys Shares of 5,821 PTC Therapeutics, Inc. $PTCT

Key Points

• Financiere des Professionnels Fonds d'investissement inc. invested $284,000 in PTC Therapeutics, acquiring 5,821 shares of the company during the second quarter.
• PTC Therapeutics reported a quarterly earnings beat with a loss of ($0.83) per share, surpassing expectations of ($1.07), although revenue decreased by 4.2% year-over-year.
• Insiders have recently sold significant shares, including a 60.32% decrease in ownership by director Emma Reeve and a 19.13% decrease by VP Mark Elliott Boulding.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,821 shares of the biopharmaceutical company's stock, valued at approximately $284,000.

Other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP increased its position in shares of PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. grew its stake in PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC increased its holdings in PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 441 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PTC Therapeutics in the 1st quarter valued at approximately $61,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at approximately $73,000.

Insider Activity

In related news, insider Eric Pauwels sold 39,850 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $56.92, for a total value of $2,268,262.00. Following the sale, the insider owned 72,912 shares of the company's stock, valued at $4,150,151.04. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 24,585 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $61.34, for a total value of $1,508,043.90. Following the transaction, the vice president directly owned 103,901 shares of the company's stock, valued at approximately $6,373,287.34. This represents a 19.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,393 shares of company stock worth $7,640,615. Company insiders own 5.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on PTCT. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. UBS Group raised their target price on PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 price target on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Morgan Stanley dropped their price objective on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Finally, Citigroup raised their price objective on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

PTC Therapeutics Price Performance

PTCT stock traded up $0.37 during midday trading on Monday, reaching $60.85. 970,031 shares of the stock were exchanged, compared to its average volume of 1,277,147. The stock has a market capitalization of $4.83 billion, a PE ratio of 8.73 and a beta of 0.53. PTC Therapeutics, Inc. has a 52 week low of $34.57 and a 52 week high of $63.19. The company has a fifty day moving average price of $51.70 and a 200 day moving average price of $49.79.

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

PTC Therapeutics 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.