Jupiter Asset Management Ltd. Makes New $27.43 Million Investment in PTC Therapeutics, Inc. $PTCT

Key Points

• Jupiter Asset Management disclosed a new position in PTC Therapeutics, buying 361,159 shares worth about $27.43 million in the fourth quarter, giving it about 0.45% ownership of the company.
• PTC Therapeutics reported better-than-expected quarterly results, with EPS of -$0.03 versus the -$0.45 consensus estimate and revenue of $272.55 million, up 43.5% year over year and above expectations.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $89, even as several insiders recently sold shares.

Jupiter Asset Management Ltd. acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 361,159 shares of the biopharmaceutical company's stock, valued at approximately $27,434,000. Jupiter Asset Management Ltd. owned 0.45% of PTC Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PTCT. Smartleaf Asset Management LLC lifted its holdings in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 236 shares during the last quarter. Optiver Holding B.V. lifted its holdings in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 249 shares during the last quarter. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $41,000. Finally, IFP Advisors Inc lifted its holdings in shares of PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 310 shares during the last quarter.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $73.85 on Friday. The stock's 50 day simple moving average is $69.46 and its 200 day simple moving average is $72.41. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of -31.70, a PEG ratio of 13.25 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period last year, the business earned $10.04 EPS. The firm's revenue was up 43.5% compared to the same quarter last year. On average, analysts forecast that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.

Analyst Ratings Changes

PTCT has been the subject of several research reports. Truist Financial upgraded PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. Jefferies Financial Group upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their price target for the company from $76.00 to $85.00 in a report on Wednesday. Wall Street Zen lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Barclays reiterated an "overweight" rating and set a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of PTC Therapeutics in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $89.00.

Insiders Place Their Bets

In other PTC Therapeutics news, Director Stephanie Okey sold 15,167 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total value of $1,061,690.00. Following the transaction, the director directly owned 8,000 shares of the company's stock, valued at $560,000. The trade was a 65.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew B. Klein sold 12,572 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $72.95, for a total value of $917,127.40. Following the completion of the transaction, the chief executive officer directly owned 393,998 shares in the company, valued at approximately $28,742,154.10. This represents a 3.09% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 115,022 shares of company stock worth $7,925,979 in the last three months. 5.50% of the stock is owned by insiders.

About PTC Therapeutics

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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