Jacobs Levy Equity Management Inc. Has $1.84 Million Stock Holdings in PTC Therapeutics, Inc. $PTCT

Key Points

• Jacobs Levy Equity Management Inc. sold 790,450 shares of PTC Therapeutics, reducing its holdings by 95.6% in the first quarter, leaving it with 36,069 shares.
• According to analysts, PTC Therapeutics recorded a quarterly earnings per share (EPS) of ($0.83), outperforming the consensus estimate of ($1.07).
• PTC Therapeutics' stock has fluctuated between a 12-month low of $30.98 and a high of $59.00, with a current market cap of $4.63 billion.

Jacobs Levy Equity Management Inc. decreased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 95.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,069 shares of the biopharmaceutical company's stock after selling 790,450 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in PTC Therapeutics were worth $1,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 551 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 320 shares during the last quarter. GAMMA Investing LLC lifted its stake in PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 441 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in PTC Therapeutics in the 1st quarter valued at approximately $61,000. Finally, GF Fund Management CO. LTD. bought a new position in PTC Therapeutics in the 4th quarter valued at approximately $73,000.

PTC Therapeutics Price Performance

NASDAQ PTCT traded up $0.13 during mid-day trading on Friday, reaching $61.09. 1,759,211 shares of the stock were exchanged, compared to its average volume of 1,275,826. PTC Therapeutics, Inc. has a one year low of $33.19 and a one year high of $62.18. The stock has a 50 day simple moving average of $50.27 and a 200-day simple moving average of $49.48. The stock has a market cap of $4.85 billion, a P/E ratio of 8.76 and a beta of 0.53.

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, topping analysts' consensus estimates of ($1.07) by $0.24. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. During the same quarter last year, the firm earned ($1.29) earnings per share. PTC Therapeutics's quarterly revenue was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on PTCT. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Barclays raised 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 note on Tuesday, July 29th. UBS Group raised their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Truist Financial raised their price target 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, Bank of America dropped 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. Nine 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's stock. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $69.00.

Insider Buying and Selling at PTC Therapeutics

In related news, insider Eric Pauwels sold 39,850 shares of PTC Therapeutics stock in a transaction on Monday, September 8th. The shares were sold at an average price of $56.92, for a total transaction of $2,268,262.00. Following the completion of the transaction, the insider owned 72,912 shares of the company's stock, valued at $4,150,151.04. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allan Steven Jacobson sold 1,667 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was 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. The trade was a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,439 shares of company stock valued at $3,815,619 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

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.