Trexquant Investment LP Sells 119,618 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Trexquant Investment LP has decreased its holdings in PTC Therapeutics by 38.2%, owning around 193,799 shares after selling over 119,000 shares in the first quarter.
• Several institutional investors, including Quantbot Technologies LP and PNC Financial Services Group Inc., have significantly increased their positions in PTC Therapeutics, with Quantbot raising its holdings by 545.5%.
• PTC Therapeutics recently reported quarterly earnings, exceeding earnings per share consensus estimates with $178.88 million in revenue but a 4.2% year-over-year decline.

Trexquant Investment LP lowered its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 38.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,799 shares of the biopharmaceutical company's stock after selling 119,618 shares during the period. Trexquant Investment LP owned about 0.24% of PTC Therapeutics worth $9,876,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in PTC Therapeutics during the 1st quarter valued at $595,000. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $524,000. Sector Gamma AS grew its position in shares of PTC Therapeutics by 41.4% in the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company's stock worth $4,701,000 after buying an additional 27,000 shares during the last quarter. Deutsche Bank AG grew its position in shares of PTC Therapeutics by 262.1% in the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company's stock worth $17,414,000 after buying an additional 247,346 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $641,000.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the sale, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,589 shares of company stock valued at $847,277 over the last 90 days. Corporate insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price objective on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. cut their price objective on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley cut their price objective on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Wall Street Zen cut PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company lowered 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. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.00.

PTC Therapeutics Price Performance

PTCT stock traded up $2.46 on Thursday, reaching $58.01. 1,904,678 shares of the company traded hands, compared to its average volume of 1,295,651. PTC Therapeutics, Inc. has a one year low of $30.41 and a one year high of $58.38. The company has a market cap of $4.61 billion, a P/E ratio of 8.32 and a beta of 0.53. The firm has a fifty day simple moving average of $49.09 and a 200-day simple moving average of $49.13.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share 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 analyst estimates of $173.01 million. During the same quarter last year, the company earned ($1.29) EPS. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current 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.