MPM Bioimpact LLC Has $22.42 Million Holdings 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 grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 1.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 439,977 shares of the biopharmaceutical company's stock after acquiring an additional 5,210 shares during the quarter. PTC Therapeutics comprises approximately 3.9% of MPM Bioimpact LLC's holdings, making the stock its 6th largest holding. MPM Bioimpact LLC owned 0.56% of PTC Therapeutics worth $22,421,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PTCT. Toronto Dominion Bank bought a new stake in PTC Therapeutics in the fourth quarter worth $148,363,000. Driehaus Capital Management LLC bought a new stake in PTC Therapeutics in the fourth quarter worth $46,993,000. Nuveen LLC bought a new stake in PTC Therapeutics in the first quarter worth $51,427,000. Point72 Asset Management L.P. lifted its position in PTC Therapeutics by 150.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock worth $65,153,000 after buying an additional 867,502 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in PTC Therapeutics by 13.2% in the first quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company's stock worth $276,161,000 after buying an additional 632,049 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a research report on Friday, August 8th. 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. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.15.

PTC Therapeutics Price Performance

PTCT stock opened at $49.33 on Tuesday. The business has a 50-day moving average price of $48.73 and a 200 day moving average price of $49.02. The company has a market capitalization of $3.92 billion, a P/E ratio of 7.08 and a beta of 0.53. PTC Therapeutics, Inc. has a 1-year low of $30.41 and a 1-year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data 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 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 firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of PTC Therapeutics stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 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.

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