Vanguard Group Inc. Purchases 514,204 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Vanguard Group increased its stake in PTC Therapeutics by 6.2%, buying 514,204 shares to own 8,803,203 shares (about 10.96% of the company) valued at roughly $668.7 million.
• PTC reported a weak quarter—EPS of ($1.67) missed estimates by $1.46 and revenue fell 22.7% year-over-year—yet the stock trades with a $5.4B market cap and an average analyst rating of "Moderate Buy" with a $84.40 average price target amid mixed analyst moves.

Vanguard Group Inc. raised its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,803,203 shares of the biopharmaceutical company's stock after purchasing an additional 514,204 shares during the period. Vanguard Group Inc. owned approximately 10.96% of PTC Therapeutics worth $668,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of PTC Therapeutics by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company's stock worth $301,856,000 after buying an additional 224,481 shares in the last quarter. State Street Corp boosted its stake in PTC Therapeutics by 22.1% in the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company's stock valued at $146,347,000 after buying an additional 541,558 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in PTC Therapeutics in the third quarter valued at about $97,252,000. SG Americas Securities LLC grew its position in PTC Therapeutics by 587.5% in the fourth quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company's stock valued at $67,943,000 after acquiring an additional 764,364 shares during the last quarter. Finally, Palo Alto Investors LP raised its stake in PTC Therapeutics by 112.2% during the third quarter. Palo Alto Investors LP now owns 862,613 shares of the biopharmaceutical company's stock worth $52,939,000 after acquiring an additional 456,144 shares in the last quarter.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $65.15 on Monday. The business's 50-day moving average price is $67.97 and its 200-day moving average price is $72.11. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 8.42 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.46). The company had revenue of $164.68 million during the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business's revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.85) earnings per share. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post -0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTCT has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Wall Street Zen lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Morgan Stanley lifted their price target on shares of PTC Therapeutics from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Jefferies Financial Group lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating and decreased their price target for the company from $91.00 to $76.00 in a report on Monday, March 30th. Finally, Barclays reaffirmed an "overweight" rating and set a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $84.40.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, EVP Lee Scott Golden sold 829 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total value of $56,363.71. Following the sale, the executive vice president owned 79,115 shares in the company, valued at approximately $5,379,028.85. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew B. Klein sold 2,850 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $70.91, for a total value of $202,093.50. Following the completion of the transaction, the chief executive officer directly owned 394,070 shares in the company, valued at approximately $27,943,503.70. This represents a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 126,492 shares of company stock worth $8,634,621. 5.50% of the stock is currently owned by insiders.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company's research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC's approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.

Want to see what other hedge funds are holding PTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.