PTC Therapeutics, Inc. $PTCT Stock Position Lifted by California State Teachers Retirement System

California State Teachers Retirement System grew its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 23.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,320 shares of the biopharmaceutical company's stock after purchasing an additional 16,027 shares during the period. California State Teachers Retirement System owned approximately 0.10% of PTC Therapeutics worth $5,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janus Henderson Group PLC increased its stake in PTC Therapeutics by 28.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company's stock valued at $368,587,000 after buying an additional 1,077,776 shares during the period. State Street Corp increased its stake in shares of PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock valued at $319,497,000 after acquiring an additional 1,071,343 shares during the period. Toronto Dominion Bank increased its stake in shares of PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock valued at $314,339,000 after acquiring an additional 891,690 shares during the period. BNP Paribas Financial Markets raised its holdings in PTC Therapeutics by 4,013.1% during the fourth quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company's stock worth $62,945,000 after purchasing an additional 808,515 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company's stock worth $668,691,000 after purchasing an additional 514,204 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Matthew B. Klein sold 10,292 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $68.57, for a total value of $705,722.44. Following the completion of the transaction, the chief executive officer owned 383,868 shares in the company, valued at $26,321,828.76. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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, Director Mary L. Smith sold 15,834 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the completion of the transaction, the director directly owned 21,813 shares of the company's stock, valued at $1,963,170. This represents a 42.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 205,414 shares of company stock valued at $16,774,162. 5.30% of the stock is currently owned by company insiders.

PTC Therapeutics Stock Performance

NASDAQ PTCT opened at $70.85 on Friday. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $90.87. The business's fifty day moving average is $77.55 and its two-hundred day moving average is $72.54. The stock has a market capitalization of $5.91 billion, a P/E ratio of -122.16, a P/E/G ratio of 1.92 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company's revenue was up 101.5% compared to the same quarter last year. During the same period last year, the company posted ($0.83) EPS. On average, research analysts forecast that PTC Therapeutics, Inc. will post 1.3 earnings per share for the current year.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of research reports. Raymond James Financial initiated coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an "outperform" rating and a $108.00 price target for the company. Jefferies Financial Group raised PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Morgan Stanley upped their price objective on PTC Therapeutics from $93.00 to $104.00 and gave the company an "overweight" rating in a report on Friday, July 31st. TD Cowen raised PTC Therapeutics from a "hold" rating to a "buy" rating and raised their target price for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Zacks Research raised PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.75.

About PTC Therapeutics

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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