Ensign Peak Advisors Inc Trims Stock Position in PTC Therapeutics, Inc. $PTCT

Ensign Peak Advisors Inc trimmed its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 268,217 shares of the biopharmaceutical company’s stock after selling 6,050 shares during the quarter. Ensign Peak Advisors Inc’s holdings in PTC Therapeutics were worth $13,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTCT. Quantbot Technologies LP lifted its stake in shares of PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 551 shares during the last quarter. PNC Financial Services Group Inc. raised 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 valued at $36,000 after buying an additional 320 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PTC Therapeutics in the first quarter valued at about $61,000. AlphaQuest LLC boosted its stake in PTC Therapeutics by 67.0% during the first quarter. AlphaQuest LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $92,000 after buying an additional 725 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of PTC Therapeutics during the second quarter valued at about $92,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America decreased their price objective on shares of PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Barclays raised their price target on PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” 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 report on Saturday, November 8th. Morgan Stanley decreased their target price on PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company lifted their target price on PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.40.

Insider Buying and Selling

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 55,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $66.05, for a total value of $3,632,750.00. Following the sale, the insider directly owned 100,625 shares of the company’s stock, valued at approximately $6,646,281.25. This represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Emma Reeve sold 25,562 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $65.96, for a total transaction of $1,686,069.52. Following the completion of the sale, the director owned 10,332 shares in the company, valued at $681,498.72. The trade was a 71.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 264,807 shares of company stock valued at $16,760,813 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Trading Up 2.6%

NASDAQ:PTCT opened at $78.47 on Friday. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $79.98. The firm has a market cap of $6.30 billion, a PE ratio of 11.26 and a beta of 0.60. The stock has a fifty day moving average price of $67.03 and a 200 day moving average price of $55.59.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.19) by $1.39. The company had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.PTC Therapeutics’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.39) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

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.