Rafferty Asset Management LLC Sells 20,965 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Rafferty Asset Management LLC reduced its stake in PTC Therapeutics by 26.9%, selling 20,965 shares during the first quarter, leaving them with 57,067 shares valued at approximately $2.9 million.
• Several hedge funds have adjusted their positions in PTC Therapeutics, notably AlphaQuest LLC, which increased its stake by 67.0%, and T. Rowe Price Investment Management Inc., which entered with a new stake valued at about $8.87 million.
• PTC Therapeutics reports a quarterly loss of ($0.83) EPS, exceeding analyst expectations of ($1.07), and revenue of $178.88 million, above the consensus estimate of $173.01 million.

Rafferty Asset Management LLC decreased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 26.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,067 shares of the biopharmaceutical company's stock after selling 20,965 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.07% of PTC Therapeutics worth $2,908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after acquiring an additional 205 shares in the last quarter. Xponance Inc. boosted its stake in shares of PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock valued at $325,000 after purchasing an additional 314 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 320 shares in the last quarter. Diversified Trust Co grew its position in PTC Therapeutics by 2.0% during the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock worth $874,000 after acquiring an additional 329 shares during the last quarter. Finally, GF Fund Management CO. LTD. increased its stake in shares of PTC Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock valued at $101,000 after buying an additional 355 shares during the period.

Insiders Place Their Bets

In related news, Director Allan Steven Jacobson sold 1,667 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $50.15, for a total value of $83,600.05. Following the transaction, the director owned 17,451 shares in the company, valued at $875,167.65. The trade was a 8.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $555,635.86. Following the sale, 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. Over the last quarter, insiders have sold 16,589 shares of company stock worth $847,277. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Stock Performance

PTCT stock traded up $0.10 on Thursday, reaching $55.65. The company's stock had a trading volume of 412,124 shares, compared to its average volume of 1,082,965. PTC Therapeutics, Inc. has a 12-month low of $30.41 and a 12-month high of $58.38. The business has a fifty day simple moving average of $48.92 and a two-hundred day simple moving average of $49.09. The firm has a market cap of $4.42 billion, a PE ratio of 7.99 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $173.01 million. During the same period last year, the business posted ($1.29) earnings per share. PTC Therapeutics's quarterly revenue was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on PTCT. Barclays increased their price target 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. JPMorgan Chase & Co. lowered their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Bank of America lowered their target price on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Citigroup raised their price objective on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

PTC Therapeutics Company 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.