T. Rowe Price Investment Management Inc. Purchases Shares of 174,088 PTC Therapeutics, Inc. $PTCT

Key Points

• T. Rowe Price Investment Management Inc. acquired a new stake in PTC Therapeutics, purchasing 174,088 shares valued at approximately $8.87 million in the first quarter, representing about 0.22% ownership in the company.
• Insider activity saw CFO Pierre Gravier and CEO Matthew B. Klein selling shares valued at over $680,000, signaling possible profit-taking or portfolio adjustments.
• PTC Therapeutics reported quarterly earnings, beating estimates with earnings per share of ($0.83) against a consensus of ($1.07), but revenue dipped 4.2% year-over-year to $178.88 million.

T. Rowe Price Investment Management Inc. purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 174,088 shares of the biopharmaceutical company's stock, valued at approximately $8,872,000. T. Rowe Price Investment Management Inc. owned about 0.22% of PTC Therapeutics as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PTC Therapeutics by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after purchasing an additional 205 shares during the last quarter. Xponance Inc. boosted its stake in PTC Therapeutics by 5.2% during 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 during the last quarter. PNC Financial Services Group Inc. boosted its stake in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 320 shares during the last quarter. Diversified Trust Co boosted its stake in PTC Therapeutics by 2.0% during the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock valued at $874,000 after purchasing an additional 329 shares during the last quarter. Finally, GF Fund Management CO. LTD. boosted its stake in PTC Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 355 shares during the last quarter.

PTC Therapeutics Trading Up 0.0%

PTC Therapeutics stock traded up $0.01 during trading on Thursday, reaching $49.79. The company had a trading volume of 650,687 shares, compared to its average volume of 1,080,210. PTC Therapeutics, Inc. has a 52 week low of $30.41 and a 52 week high of $58.38. The firm's 50-day simple moving average is $48.77 and its 200 day simple moving average is $49.04. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.14 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $173.01 million. During the same period last year, the firm earned ($1.29) EPS. PTC Therapeutics'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. On average, analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Analysts Set New Price Targets

PTCT has been the topic of several recent analyst reports. Barclays increased their target price 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. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a research note on Friday, August 8th. Cantor Fitzgerald raised their price target on PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Wells Fargo & Company dropped their price target on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Finally, Citigroup raised their price target on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, PTC Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $69.15.

Insiders Place Their Bets

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 stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the sale, the chief financial officer directly owned 71,920 shares of the company's stock, valued at $3,557,163.20. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the sale, the chief executive officer directly owned 337,767 shares in the company, valued at approximately $17,476,064.58. This 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 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.