Walleye Capital LLC Sells 40,844 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Walleye Capital LLC reduced its stake in PTC Therapeutics by 37.1%, owning approximately 0.09% of the company, equating to about $3.52 million as of its latest SEC filing.
• PTC Therapeutics reported a quarterly EPS of ($0.83), exceeding analysts' expectations, and generated $178.88 million in revenue, which was down 4.2% year-over-year.
• Multiple analysts have adjusted their price targets for PTC Therapeutics, with UBS Group raising its target from $71.00 to $80.00 and maintaining a "buy" rating.

Walleye Capital LLC lessened its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 37.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,160 shares of the biopharmaceutical company's stock after selling 40,844 shares during the quarter. Walleye Capital LLC owned about 0.09% of PTC Therapeutics worth $3,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. boosted its holdings in 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 buying an additional 320 shares during the period. GAMMA Investing LLC boosted its holdings in 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 buying an additional 441 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PTC Therapeutics in the first quarter worth $61,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $73,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PTCT. JPMorgan Chase & Co. dropped their price target on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 price target (up previously from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. Barclays increased their price target on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Wells Fargo & Company decreased their target price on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Morgan Stanley reduced their price objective on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.15.

Insider Buying and Selling

In related news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 71,920 shares of the company's stock, valued at $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. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Stock Down 0.9%

PTCT stock traded down $0.46 during midday trading on Friday, hitting $49.33. The company's stock had a trading volume of 906,924 shares, compared to its average volume of 1,262,371. PTC Therapeutics, Inc. has a 12 month low of $30.41 and a 12 month high of $58.38. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 7.08 and a beta of 0.54. The company has a 50 day moving average of $48.74 and a two-hundred day moving average of $49.04.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. During the same period in the prior year, the company 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. On average, analysts anticipate 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.