New York State Teachers Retirement System Makes New Investment in PTC Therapeutics, Inc. $PTCT

Key Points

• New York State Teachers Retirement System opened a new position in PTC Therapeutics, buying 44,637 shares worth roughly $3.39 million and representing about 0.06% of the company.
• Significant insider selling occurred last quarter — insiders sold 126,492 shares valued at $8.63 million (including a 52,003‑share sale by Neil Almstead); insiders now own 5.50% of the stock.
• PTC beat estimates for the quarter with EPS of ($0.03) vs. consensus ($0.45) and revenue of $272.6 million (up 43.5% year‑over‑year); the stock recently traded down ~3.1% and carries a consensus analyst rating of "Moderate Buy" with an average price target of $85.64.

New York State Teachers Retirement System bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 44,637 shares of the biopharmaceutical company's stock, valued at approximately $3,391,000. New York State Teachers Retirement System owned about 0.06% of PTC Therapeutics at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PTCT. Empowered Funds LLC acquired a new position in shares of PTC Therapeutics during the first quarter valued at about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock valued at $9,109,000 after buying an additional 18,504 shares during the last quarter. Quantbot Technologies LP raised its position in shares of PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company's stock valued at $121,000 after buying an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics during the second quarter valued at about $1,661,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after buying an additional 814 shares during the last quarter.

Insider Activity at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 829 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total transaction of $56,363.71. Following the sale, the executive vice president directly owned 79,115 shares of the company's stock, valued at $5,379,028.85. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, insider Neil Gregory Almstead sold 52,003 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the sale, the insider directly owned 60,137 shares in the company, valued at $4,151,858.48. This trade represents a 46.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 126,492 shares of company stock valued at $8,634,621. Insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Down 3.1%

NASDAQ PTCT opened at $64.49 on Friday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 8.33 and a beta of 0.53. The company has a 50 day moving average of $67.69 and a 200-day moving average of $72.07. PTC Therapeutics, Inc. has a 1-year low of $39.53 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million during the quarter, compared to analyst estimates of $218.80 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The company's revenue was up 43.5% on a year-over-year basis. During the same quarter last year, the business posted $10.04 earnings per share. On average, analysts forecast that PTC Therapeutics, Inc. will post -1.1 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of PTC Therapeutics from $87.00 to $82.00 and set a "sector perform" rating for the company in a research report on Friday, February 20th. Wall Street Zen lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Truist Financial raised shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Morgan Stanley increased their price target on shares of PTC Therapeutics from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Finally, Raymond James Financial assumed coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They issued an "outperform" rating and a $108.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.64.

PTC Therapeutics 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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