Hsbc Holdings PLC Has $926,000 Stock Position in PTC Therapeutics, Inc. $PTCT

Key Points

• Hsbc Holdings PLC cut its stake in PTC Therapeutics by 93.2% in the fourth quarter, leaving it with 12,128 shares valued at about $926,000.
• PTC Therapeutics reported a quarterly EPS loss of $0.03, beating estimates, while revenue came in at $272.55 million, well above expectations and up 43.5% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $91.57, even as insiders have been selling shares in recent months.

Hsbc Holdings PLC reduced its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 93.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,128 shares of the biopharmaceutical company's stock after selling 166,371 shares during the period. Hsbc Holdings PLC's holdings in PTC Therapeutics were worth $926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. bought a new stake in PTC Therapeutics during the fourth quarter worth about $26,000. Comerica Bank raised its stake in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $41,000. IFP Advisors Inc boosted its holdings in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock worth $47,000 after acquiring an additional 310 shares in the last quarter. Finally, Allworth Financial LP grew its position in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock worth $48,000 after acquiring an additional 247 shares during the last quarter.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $81.33 on Tuesday. The stock's fifty day moving average price is $75.89 and its two-hundred day moving average price is $72.76. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $90.87. The company has a market cap of $6.75 billion, a price-to-earnings ratio of -34.91, a P/E/G ratio of 3.90 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.42. The firm had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period last year, the company earned $10.04 EPS. On average, equities analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised PTC Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Raymond James Financial assumed coverage on PTC Therapeutics in a report on Friday, April 10th. They set an "outperform" rating and a $108.00 target price on the stock. Morgan Stanley restated an "overweight" rating and issued a $94.00 target price on shares of PTC Therapeutics in a research note on Friday, May 8th. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada upped their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.57.

Insider Buying and Selling at PTC Therapeutics

In related news, insider Eric Pauwels sold 21,277 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total value of $1,595,775.00. Following the transaction, the insider owned 73,411 shares in the company, valued at $5,505,825. This trade represents a 22.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 24,613 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total value of $2,187,849.57. Following the completion of the sale, the insider owned 60,299 shares of the company's stock, valued at approximately $5,359,978.11. The trade was a 28.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 201,512 shares of company stock valued at $16,550,087 over the last ninety days. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Company 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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