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

Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its position in PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. grew its position 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 valued at $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC grew its position in PTC Therapeutics by 86.3% during 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. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PTC Therapeutics in the first quarter worth about $61,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth about $73,000.

PTC Therapeutics Stock Performance

Shares of PTCT stock traded down $2.40 during trading hours on Friday, hitting $60.48. The company had a trading volume of 1,835,615 shares, compared to its average volume of 1,237,900. The firm's fifty day moving average is $51.48 and its 200 day moving average is $49.76. PTC Therapeutics, Inc. has a 12 month low of $34.57 and a 12 month high of $63.19. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 8.68 and a beta of 0.53.

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 the consensus estimate 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 analysts' expectations of $173.01 million. During the same period last year, the firm earned ($1.29) EPS. The business's revenue for the quarter was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PTCT. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a research report on Friday, August 8th. UBS Group upped their target price on PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and issued a $63.00 price target (up previously from $60.00) on shares of PTC Therapeutics in a report on Friday, August 8th. Finally, Wells Fargo & Company reduced 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, August 20th. Nine equities research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Buying and Selling

In other news, insider Eric Pauwels sold 39,850 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $56.92, for a total value of $2,268,262.00. Following the sale, the insider directly owned 72,912 shares in the company, 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 at the SEC website. Also, Director David P. Southwell sold 12,000 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $58.34, for a total value of $700,080.00. Following the sale, the director owned 16,850 shares in the company, valued at $983,029. The trade was a 41.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,393 shares of company stock valued at $7,640,615. Corporate insiders own 5.50% of the company's stock.

About PTC Therapeutics

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.