MPM Bioimpact LLC Boosts Stock Position in PTC Therapeutics, Inc. $PTCT

Key Points

• MPM Bioimpact LLC increased its holdings in PTC Therapeutics by 1.2%, owning 439,977 shares worth approximately $22.42 million, making it the 6th largest holding in its portfolio.
• Wall Street analysts have varied opinions on the stock, with an overall consensus rating of "Moderate Buy" and a target price averaging $69.15.
• PTC Therapeutics reported earnings of ($0.83) per share, beating expectations, while its quarterly revenue was $178.88 million, a 4.2% decrease year-over-year.

MPM Bioimpact LLC boosted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 439,977 shares of the biopharmaceutical company's stock after purchasing an additional 5,210 shares during the quarter. PTC Therapeutics makes up approximately 3.9% of MPM Bioimpact LLC's holdings, making the stock its 6th largest holding. MPM Bioimpact LLC owned about 0.56% of PTC Therapeutics worth $22,421,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PTCT. Dimensional Fund Advisors LP acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $4,742,000. Northern Trust Corp grew its position in shares of PTC Therapeutics by 7.8% in the 4th quarter. Northern Trust Corp now owns 727,976 shares of the biopharmaceutical company's stock worth $32,861,000 after acquiring an additional 52,714 shares in the last quarter. Bellevue Group AG acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $172,000. Brevan Howard Capital Management LP acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $551,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of PTC Therapeutics by 133.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 141,410 shares of the biopharmaceutical company's stock worth $6,383,000 after acquiring an additional 80,736 shares in the last quarter.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded down $0.75 during midday trading on Friday, reaching $57.26. 1,517,110 shares of the company traded hands, compared to its average volume of 1,305,081. The company has a fifty day moving average price of $49.24 and a 200 day moving average price of $49.17. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 8.22 and a beta of 0.53. PTC Therapeutics, Inc. has a twelve month low of $30.59 and a twelve month high of $58.73.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.24. The firm had revenue of $178.88 million for 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 firm's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America decreased their target price on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Wells Fargo & Company decreased their target price on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Barclays lifted their target price on PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Citigroup boosted their price objective on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Cowen restated a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of PTC Therapeutics stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the sale, the chief executive officer owned 337,767 shares of the company's stock, valued at $17,476,064.58. The trade was a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the sale, the chief financial officer directly 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. Insiders have sold 16,589 shares of company stock valued at $847,277 in the last quarter. Corporate insiders own 5.50% of the company's stock.

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.