Russell Investments Group Ltd. Cuts Position in PTC Therapeutics, Inc. $PTCT

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in PTC Therapeutics by 92.0%, dropping its holdings to 13,644 shares valued at approximately $695,000.
• Several hedge funds increased their investments in PTC Therapeutics, with a notable purchase by Toronto Dominion Bank totaling about $148.36 million in the fourth quarter.
• PTC Therapeutics recently reported a net margin of 35.65% with earnings per share of ($0.83), outperforming analyst estimates, despite a 4.2% year-over-year revenue decline.

Russell Investments Group Ltd. decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 92.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,644 shares of the biopharmaceutical company's stock after selling 157,053 shares during the period. Russell Investments Group Ltd.'s holdings in PTC Therapeutics were worth $695,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board bought a new position in shares of PTC Therapeutics in the first quarter valued at about $5,096,000. Nuveen LLC acquired a new position in shares of PTC Therapeutics in the first quarter valued at approximately $51,427,000. Entropy Technologies LP acquired a new position in PTC Therapeutics during the first quarter worth $229,000. Invesco Ltd. grew its position in shares of PTC Therapeutics by 178.6% in the 1st quarter. Invesco Ltd. now owns 310,329 shares of the biopharmaceutical company's stock valued at $15,814,000 after acquiring an additional 198,938 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in PTC Therapeutics by 11.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,337 shares of the biopharmaceutical company's stock worth $1,342,000 after acquiring an additional 2,705 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PTCT. Wells Fargo & Company cut their target price on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Citigroup increased their price objective on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a research note on Friday, August 8th. UBS Group increased their price target on PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Barclays increased their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Insider Transactions at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Allan Steven Jacobson sold 1,667 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $50.15, for a total value of $83,600.05. Following the completion of the sale, the director owned 17,451 shares of the company's stock, valued at $875,167.65. This trade represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,589 shares of company stock worth $847,277 over the last three months. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Price Performance

PTC Therapeutics stock traded up $0.68 during trading hours on Thursday, reaching $56.23. The stock had a trading volume of 312,975 shares, compared to its average volume of 1,082,302. The company has a fifty day simple moving average of $48.92 and a 200-day simple moving average of $49.09. PTC Therapeutics, Inc. has a 52 week low of $30.41 and a 52 week high of $58.38. The stock has a market cap of $4.47 billion, a PE ratio of 8.03 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results 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 negative return on equity of 106.31% and a net margin of 35.65%.The company had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. During the same quarter last year, the business posted ($1.29) EPS. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. Research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

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.