PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in PTC Therapeutics, Inc. by 172.2%, owning 35,987 shares valued at approximately $1.83 million as of the end of the first quarter.
• Several large investors, including Sterling Capital Management and GAMMA Investing LLC, also boosted their stakes in PTC Therapeutics, indicating growing institutional interest in the company.
• A recent earnings report showed that PTC Therapeutics had an impressive EPS of $10.04 for the quarter, greatly surpassing expectations, even though quarterly revenue was down 9.6% from the previous year.

XTX Topco Ltd increased its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 172.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,987 shares of the biopharmaceutical company's stock after purchasing an additional 22,764 shares during the quarter. XTX Topco Ltd's holdings in PTC Therapeutics were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in shares of PTC Therapeutics by 66.8% in the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock valued at $2,715,000 after purchasing an additional 24,090 shares in the last quarter. Sei Investments Co. acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at about $238,000. KLP Kapitalforvaltning AS acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at about $646,000. Vanguard Group Inc. lifted its stake in shares of PTC Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after purchasing an additional 53,688 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of PTC Therapeutics by 62.9% in the 4th quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock valued at $16,325,000 after purchasing an additional 139,596 shares in the last quarter.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded up $0.02 during trading on Friday, reaching $52.13. The stock had a trading volume of 1,020,621 shares, compared to its average volume of 1,123,253. PTC Therapeutics, Inc. has a one year low of $29.01 and a one year high of $58.38. The stock has a market cap of $4.13 billion, a PE ratio of 8.01 and a beta of 0.54. The firm's 50 day moving average price is $49.21 and its two-hundred day moving average price is $48.75.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the previous year, the business earned ($1.20) EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Pierre Gravier sold 2,516 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the transaction, the chief financial officer directly owned 71,920 shares in the company, valued at $3,557,163.20. This represents a 3.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 1,929 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total value of $89,081.22. Following the transaction, the vice president owned 103,901 shares of the company's stock, valued at $4,798,148.18. This trade represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,328 shares of company stock valued at $254,158. 5.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PTCT has been the topic of several research analyst reports. Royal Bank Of Canada lifted their price objective on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Bank of America boosted their price target on PTC Therapeutics from $68.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Citigroup reissued a "neutral" rating and set a $50.00 price target (up from $40.00) on shares of PTC Therapeutics in a research report on Monday, July 28th. Robert W. Baird reduced their price target on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald boosted their price target on PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.38.

PTC Therapeutics 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.