PTC Therapeutics, Inc. $PTCT Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC significantly reduced its stake in PTC Therapeutics, Inc. by 56.2%, ending the quarter with a position valued at approximately $2.06 million.
• CEO Matthew B. Klein sold 10,739 shares of the company, decreasing his ownership by 3.08% after the transaction.
• PTC Therapeutics reported a quarterly revenue of $178.88 million, surpassing analysts' expectations, with a net margin of 35.65%.

PDT Partners LLC decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 56.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,335 shares of the biopharmaceutical company's stock after selling 51,746 shares during the period. PDT Partners LLC owned about 0.05% of PTC Therapeutics worth $2,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PTCT. Wealth Enhancement Advisory Services LLC bought a new position in shares of PTC Therapeutics in the 1st quarter worth $595,000. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics during the first quarter worth $524,000. Sector Gamma AS grew its holdings in PTC Therapeutics by 41.4% during the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company's stock worth $4,701,000 after acquiring an additional 27,000 shares during the period. Deutsche Bank AG lifted its position in PTC Therapeutics by 262.1% in the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company's stock valued at $17,414,000 after acquiring an additional 247,346 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in PTC Therapeutics in the 1st quarter valued at approximately $641,000.

PTC Therapeutics Stock Down 0.9%

Shares of NASDAQ PTCT traded down $0.53 during trading hours on Monday, hitting $56.73. 388,781 shares of the stock were exchanged, compared to its average volume of 1,090,408. The company has a market cap of $4.51 billion, a PE ratio of 8.14 and a beta of 0.53. PTC Therapeutics, Inc. has a 12 month low of $30.98 and a 12 month high of $58.73. The firm has a fifty day moving average price of $49.24 and a 200-day moving average price of $49.17.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released 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. The company had revenue of $178.88 million for the quarter, compared to the consensus estimate of $173.01 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. PTC Therapeutics's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird set a $70.00 price objective on shares of PTC Therapeutics in a report on Friday, August 8th. Wells Fargo & Company lowered their price target on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Bank of America lowered their price target on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Truist Financial upped their price objective on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Barclays boosted their price target on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

Insider Activity

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 337,767 shares in the company, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Allan Steven Jacobson sold 1,667 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $50.15, for a total transaction of $83,600.05. Following the completion of the sale, the director owned 17,451 shares of the company's stock, valued at $875,167.65. This trade represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,589 shares of company stock worth $847,277 in the last ninety days. Company 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.