Wellington Management Group LLP Purchases 632,049 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Wellington Management Group LLP increased its stake in PTC Therapeutics, owning 5,419,172 shares valued at approximately $276.16 million, representing a 13.2% boost during the 1st quarter.
• PTC Therapeutics has received mixed analyst ratings, with target prices ranging from $40.00 to $86.00 and a consensus rating of "Moderate Buy."
• In its latest earnings report, PTC Therapeutics surpassed earnings estimates, posting a loss of ($0.83) per share against a consensus expectation of ($1.07).

Wellington Management Group LLP lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 13.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,419,172 shares of the biopharmaceutical company's stock after purchasing an additional 632,049 shares during the period. Wellington Management Group LLP owned about 6.84% of PTC Therapeutics worth $276,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after acquiring an additional 205 shares in the last quarter. Xponance Inc. boosted its holdings in PTC Therapeutics by 5.2% in the first quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock valued at $325,000 after acquiring an additional 314 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of 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 buying an additional 320 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of 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 buying an additional 329 shares in the last quarter. Finally, GF Fund Management CO. LTD. boosted its holdings in shares of 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 buying an additional 355 shares in the last quarter.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the transaction, the chief executive officer owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. The trade was a 3.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the transaction, the chief financial officer directly owned 71,920 shares of the company's stock, valued at approximately $3,557,163.20. This trade represents a 3.38% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Stock Performance

Shares of PTCT traded down $0.6550 during trading hours on Monday, hitting $49.9150. The company had a trading volume of 161,811 shares, compared to its average volume of 1,082,265. PTC Therapeutics, Inc. has a 52-week low of $30.41 and a 52-week high of $58.38. The firm has a fifty day moving average price of $48.86 and a 200-day moving average price of $49.03. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 7.16 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its 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 business had revenue of $178.88 million during the quarter, compared to analyst estimates of $173.01 million. During the same quarter in the previous year, the firm earned ($1.29) EPS. PTC Therapeutics's revenue was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. Research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on PTCT shares. Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a report on Friday, August 8th. Truist Financial boosted their target price on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Royal Bank Of Canada restated an "outperform" rating and set a $63.00 target price (up previously from $60.00) on shares of PTC Therapeutics in a report on Friday, August 8th. Cowen restated a "hold" rating on shares of PTC Therapeutics in a report on Friday, August 8th. Finally, Barclays boosted their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. One 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 given a Sell rating to the stock. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $69.15.

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.