GSA Capital Partners LLP Decreases Position in PTC Therapeutics, Inc. $PTCT

GSA Capital Partners LLP trimmed its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 82.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,326 shares of the biopharmaceutical company’s stock after selling 25,656 shares during the period. GSA Capital Partners LLP’s holdings in PTC Therapeutics were worth $327,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hood River Capital Management LLC boosted its stake in shares of PTC Therapeutics by 654.4% in the second quarter. Hood River Capital Management LLC now owns 636,502 shares of the biopharmaceutical company’s stock worth $31,087,000 after acquiring an additional 552,130 shares during the last quarter. State Street Corp lifted its holdings in PTC Therapeutics by 22.1% in the 2nd quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock valued at $146,347,000 after purchasing an additional 541,558 shares in the last quarter. Man Group plc lifted its holdings in PTC Therapeutics by 157.4% in the 2nd quarter. Man Group plc now owns 671,513 shares of the biopharmaceutical company’s stock valued at $32,797,000 after purchasing an additional 410,653 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in PTC Therapeutics during the 2nd quarter worth $10,153,000. Finally, Squarepoint Ops LLC boosted its stake in PTC Therapeutics by 1,603.8% during the 2nd quarter. Squarepoint Ops LLC now owns 181,978 shares of the biopharmaceutical company’s stock worth $8,888,000 after purchasing an additional 171,297 shares during the last quarter.

PTC Therapeutics Stock Performance

PTCT opened at $68.10 on Friday. The stock has a market capitalization of $5.64 billion, a PE ratio of 8.80 and a beta of 0.48. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50. The business’s 50 day moving average price is $74.39 and its 200 day moving average price is $68.44.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business had revenue of $164.68 million during the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter in the prior year, the firm earned ($0.85) EPS. PTC Therapeutics’s revenue for the quarter was down 22.7% compared to the same quarter last year. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 4,879 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $77.44, for a total transaction of $377,829.76. Following the completion of the transaction, the vice president owned 117,659 shares of the company’s stock, valued at $9,111,512.96. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew B. Klein sold 8,089 shares of PTC Therapeutics stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $76.64, for a total transaction of $619,940.96. Following the sale, the chief executive officer owned 341,875 shares of the company’s stock, valued at approximately $26,201,300. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 167,765 shares of company stock worth $12,617,737. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PTCT has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. The Goldman Sachs Group raised their target price on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. Royal Bank Of Canada dropped their price target on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a research report on Friday, February 20th. Morgan Stanley increased their price target on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday. Finally, Bank of America lowered their price objective on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $80.93.

PTC Therapeutics Company Profile

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.