Public Sector Pension Investment Board Purchases Shares of 100,000 PTC Therapeutics, Inc. $PTCT

Key Points

• The Public Sector Pension Investment Board invested approximately $5.10 million in PTC Therapeutics, acquiring 100,000 shares, bringing its total ownership to 0.13%.
• Recent insider trading included CFO Pierre Gravier and CEO Matthew B. Klein selling shares, reducing their holdings by 3.38% and 3.08% respectively.
• Analysts have issued varied ratings on PTC Therapeutics, with a consensus rating of "Moderate Buy" and an average price target of $70.15.

Public Sector Pension Investment Board purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the biopharmaceutical company's stock, valued at approximately $5,096,000. Public Sector Pension Investment Board owned about 0.13% of PTC Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PTCT. Sterling Capital Management LLC increased its stake in PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 441 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of PTC Therapeutics during the fourth quarter worth $73,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of PTC Therapeutics during the first quarter worth $86,000.

Insider Activity

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

PTC Therapeutics Stock Up 2.6%

Shares of PTC Therapeutics stock traded up $1.29 during trading hours on Friday, hitting $50.21. The company's stock had a trading volume of 194,061 shares, compared to its average volume of 1,082,582. PTC Therapeutics, Inc. has a 1-year low of $30.41 and a 1-year high of $58.38. The business has a fifty day moving average of $48.87 and a 200 day moving average of $49.03. The company has a market capitalization of $3.99 billion, a PE ratio of 7.20 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS 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 firm had revenue of $178.88 million for the quarter, compared to the consensus estimate of $173.01 million. During the same period in the prior year, the firm posted ($1.29) EPS. The firm's revenue was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PTCT has been the subject of several research analyst reports. Morgan Stanley lowered their price target on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research report on Wednesday. Cantor Fitzgerald lifted their target price on PTC Therapeutics from $112.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. UBS Group upped their price target on PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Wells Fargo & Company cut their price target on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Barclays upped their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PTC Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $69.15.

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.