VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.55 Million in PTC Therapeutics, Inc. $PTCT

Key Points

• The Virginia Retirement Systems invested approximately $1.55 million to acquire 31,650 shares of PTC Therapeutics, Inc. in Q2.
• PTC Therapeutics' most recent earnings report revealed an earnings per share of ($0.83), beating analyst expectations of ($1.07), but with revenue down 4.2% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for PTC Therapeutics, with target prices ranging from $50 to $118.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,650 shares of the biopharmaceutical company's stock, valued at approximately $1,546,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP grew its holdings in shares of PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC grew its holdings in shares of PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 441 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $61,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $86,000.

PTC Therapeutics Stock Down 1.0%

Shares of PTC Therapeutics stock opened at $66.52 on Thursday. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $69.48. The firm has a market cap of $5.28 billion, a PE ratio of 9.54 and a beta of 0.55. The business's fifty day moving average is $58.70 and its two-hundred day moving average is $51.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share 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 analyst estimates of $173.01 million. During the same quarter in the prior year, the company posted ($1.29) EPS. The business'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. Equities research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analysts Set New Price Targets

PTCT has been the topic of a number of research reports. Wall Street Zen cut PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 target price on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Truist Financial increased their target price on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Bank of America lowered their target price on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Finally, Citigroup increased their target price on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 55,000 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $66.05, for a total transaction of $3,632,750.00. Following the transaction, the insider owned 100,625 shares of the company's stock, valued at $6,646,281.25. This represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Emma Reeve sold 25,562 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $65.96, for a total value of $1,686,069.52. Following the completion of the transaction, the director directly owned 10,332 shares in the company, valued at $681,498.72. This trade represents a 71.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,735 shares of company stock worth $15,467,670. Company insiders own 5.50% of the company's stock.

About PTC Therapeutics

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.

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