PTC Therapeutics, Inc. $PTCT Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 30.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,957 shares of the biopharmaceutical company's stock after selling 429,017 shares during the quarter. Pictet Asset Management Holding SA owned about 1.22% of PTC Therapeutics worth $74,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PTCT. Smartleaf Asset Management LLC lifted its holdings in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 236 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 249 shares in the last quarter. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 469 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics during the 4th quarter valued at $41,000. Finally, IFP Advisors Inc lifted its holdings in shares of PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 310 shares in the last quarter.

PTC Therapeutics Stock Performance

PTCT opened at $70.26 on Wednesday. The company has a 50-day moving average of $68.15 and a 200-day moving average of $72.13. The company has a market capitalization of $5.83 billion, a P/E ratio of 9.08 and a beta of 0.55. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The company had revenue of $164.68 million during the quarter, compared to the consensus estimate of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.PTC Therapeutics's revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.85) EPS. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Lee Scott Golden sold 829 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total value of $56,363.71. Following the completion of the sale, the executive vice president owned 79,115 shares of the company's stock, valued at approximately $5,379,028.85. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the completion of the sale, the insider directly owned 60,137 shares of the company's stock, valued at $4,151,858.48. The trade was a 46.37% decrease in their position. 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 three months, insiders have sold 126,492 shares of company stock worth $8,634,621. 5.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on PTCT shares. Wells Fargo & Company reduced their target price on shares of PTC Therapeutics from $93.00 to $86.00 and set an "overweight" rating on the stock in a report on Friday, February 20th. Cantor Fitzgerald restated an "overweight" rating on shares of PTC Therapeutics in a report on Friday, February 20th. Morgan Stanley lifted their target price on shares of PTC Therapeutics from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Royal Bank Of Canada reduced their target price on shares of PTC Therapeutics from $87.00 to $82.00 and set a "sector perform" rating on the stock in a report on Friday, February 20th. Finally, Bank of America cut their price objective on shares of PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued 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.com, the company has an average rating of "Moderate Buy" and an average target price of $84.40.

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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