US Bancorp DE Decreases Stock Position in PTC Therapeutics, Inc. $PTCT

Key Points

• US Bancorp DE drastically reduced its holdings in PTC Therapeutics by 83.6%, now owning only 1,188 shares valued at $61,000 after selling 6,049 shares in Q1.
• Several hedge funds have increased or initiated new stakes in PTC Therapeutics, with total investments ranging from $418,000 to $641,000 in the first quarter of this year.
• PTC Therapeutics reported better-than-expected quarterly earnings with a loss of ($0.83) EPS, while revenues reached $178.88 million, surpassing analyst expectations.

US Bancorp DE cut its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 83.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,188 shares of the biopharmaceutical company's stock after selling 6,049 shares during the quarter. US Bancorp DE's holdings in PTC Therapeutics were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PTCT. Sterling Capital Management LLC increased its position in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 522 shares during the period. GAMMA Investing LLC grew its stake in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 441 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics during the 4th quarter valued at about $73,000. Smallwood Wealth Investment Management LLC purchased a new position in PTC Therapeutics during the 1st quarter valued at about $86,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in PTC Therapeutics during the 4th quarter valued at approximately $77,000.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded up $1.65 during mid-day trading on Friday, hitting $50.57. 1,050,679 shares of the company's stock were exchanged, compared to its average volume of 1,532,044. The company has a market cap of $4.02 billion, a PE ratio of 7.26 and a beta of 0.54. PTC Therapeutics, Inc. has a one year low of $30.41 and a one year high of $58.38. The business has a fifty day moving average price of $48.86 and a 200 day moving average price of $49.03.

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, beating 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. The business's revenue for the quarter was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a research report on Wednesday. UBS Group raised their price target on PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 price target (up previously from $60.00) on shares of PTC Therapeutics in a report on Friday, August 8th. Truist Financial upped their price objective 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. Finally, Cantor Fitzgerald raised their target price on shares of PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.15.

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the transaction, the chief financial officer owned 71,920 shares of the company's stock, valued at $3,557,163.20. The trade was a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was 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 owned 337,767 shares in the company, valued at approximately $17,476,064.58. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.

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.