Neo Ivy Capital Management Takes $1.13 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)
Neo Ivy Capital Management bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 25,114 shares of the biopharmaceutical company’s stock, valued at approximately $1,130,000.
Other large investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $49,000. Focused Wealth Management Inc bought a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $54,000. Botty Investors LLC bought a new stake in shares of PTC Therapeutics during the 1st quarter valued at $75,000. Aperio Group LLC bought a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $168,000. Finally, NumerixS Investment Technologies Inc lifted its position in shares of PTC Therapeutics by 400.0% during the 1st quarter. NumerixS Investment Technologies Inc now owns 5,000 shares of the biopharmaceutical company’s stock valued at $182,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.
In other PTC Therapeutics news, CAO Christine Marie Utter sold 988 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $45.00, for a total value of $44,460.00. Following the completion of the transaction, the chief accounting officer now owns 5,173 shares of the company’s stock, valued at approximately $232,785. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 15,312 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $44.74, for a total value of $685,058.88. Following the completion of the transaction, the vice president now directly owns 32,805 shares of the company’s stock, valued at approximately $1,467,695.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 289,601 shares of company stock valued at $13,030,032. 7.00% of the stock is owned by corporate insiders.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.20). PTC Therapeutics had a negative return on equity of 35.79% and a negative net margin of 76.41%. The business had revenue of $85.50 million for the quarter, compared to the consensus estimate of $78.65 million. During the same quarter in the prior year, the company earned ($0.21) earnings per share. PTC Therapeutics’s quarterly revenue was up 24.5% compared to the same quarter last year. Sell-side analysts predict that PTC Therapeutics, Inc. will post -2.71 EPS for the current fiscal year.
PTCT has been the subject of a number of recent analyst reports. Barclays reiterated a “hold” rating and set a $43.00 target price on shares of PTC Therapeutics in a research report on Monday, August 12th. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, ValuEngine downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 17th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PTC Therapeutics currently has an average rating of “Buy” and an average target price of $50.89.
About PTC Therapeutics
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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