Nuveen LLC Invests $51.43 Million in PTC Therapeutics, Inc. $PTCT

Key Points

• Nuveen LLC has invested approximately $51.43 million in PTC Therapeutics by acquiring over 1 million shares, representing about 1.27% of the company.
• PTC Therapeutics reported a quarterly loss of ($0.83) EPS, surpassing analysts' expectations, with revenues of $178.88 million, marking a 4.2% decline from the previous year.
• Wall Street analysts have varied ratings for PTC Therapeutics, with price targets ranging from $63.00 to $120.00 and a consensus rating of "Moderate Buy."

Nuveen LLC acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,009,168 shares of the biopharmaceutical company's stock, valued at approximately $51,427,000. Nuveen LLC owned approximately 1.27% of PTC Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PTCT. Sterling Capital Management LLC boosted its holdings in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 522 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC lifted its stake in shares of PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 441 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $77,000.

Insider Buying and Selling at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $555,635.86. Following the transaction, the chief executive officer owned 337,767 shares in the company, valued at $17,476,064.58. This represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. This trade represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup boosted their target price on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Truist Financial boosted their target price on shares of PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a report on Friday, August 8th. Cowen reaffirmed a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Finally, Bank of America boosted their target price on PTC Therapeutics from $68.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $70.15.

PTC Therapeutics Price Performance

PTC Therapeutics stock traded up $0.77 during trading hours on Monday, hitting $49.59. The company had a trading volume of 1,392,544 shares, compared to its average volume of 1,071,789. PTC Therapeutics, Inc. has a fifty-two week low of $30.41 and a fifty-two week high of $58.38. The firm's fifty day moving average is $49.04 and its 200-day moving average is $49.01. The firm has a market capitalization of $3.94 billion, a P/E ratio of 7.12 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%. The company had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. During the same period in the prior year, the firm posted ($1.29) EPS. The business's revenue was down 4.2% compared to the same quarter last year. Analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

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.