Sector Gamma AS Raises Stock Position in PTC Therapeutics, Inc. $PTCT

by · The Markets Daily

Sector Gamma AS increased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT – Free Report) by 28.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,112 shares of the biopharmaceutical company’s stock after purchasing an additional 25,862 shares during the quarter. PTC Therapeutics accounts for 1.8% of Sector Gamma AS’s portfolio, making the stock its 21st largest position. Sector Gamma AS’s holdings in PTC Therapeutics were worth $7,249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in shares of PTC Therapeutics by 42.1% during the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 295 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares during the last quarter. Globeflex Capital L P acquired a new stake in PTC Therapeutics during the 2nd quarter valued at approximately $91,000. Plato Investment Management Ltd purchased a new stake in PTC Therapeutics during the 2nd quarter worth approximately $92,000. Finally, Exchange Traded Concepts LLC purchased a new stake in PTC Therapeutics during the 3rd quarter worth approximately $92,000.

Insider Buying and Selling

In related news, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $76.35, for a total value of $916,200.00. Following the completion of the transaction, the director owned 18,500 shares in the company, valued at $1,412,475. This represents a 39.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Allan Steven Jacobson sold 14,199 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $83.55, for a total transaction of $1,186,326.45. Following the sale, the director owned 17,451 shares in the company, valued at $1,458,031.05. This trade represents a 44.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 306,682 shares of company stock valued at $24,139,117. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays increased their target price on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group increased their price target on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Finally, TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.27.

View Our Latest Analysis on PTCT

PTC Therapeutics Trading Down 1.2%

Shares of NASDAQ:PTCT opened at $75.25 on Friday. The firm’s 50 day moving average is $77.17 and its two-hundred day moving average is $64.65. The firm has a market capitalization of $6.04 billion, a P/E ratio of 8.79 and a beta of 0.49. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. During the same period in the previous year, the firm posted ($1.39) earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

About PTC Therapeutics

(Free Report)

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.

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