First Citizens Bank & Trust Co. Invests $857,000 in PTC Therapeutics, Inc. $PTCT

First Citizens Bank & Trust Co. bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,581 shares of the biopharmaceutical company’s stock, valued at approximately $857,000.

A number of other large investors have also recently bought and sold shares of PTCT. UMB Bank n.a. purchased a new stake in shares of PTC Therapeutics in the 4th quarter valued at $26,000. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at about $41,000. IFP Advisors Inc lifted its holdings in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 310 shares during the period. Finally, Allworth Financial LP boosted its holdings in PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Raymond James Financial started coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. Weiss Ratings cut shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Finally, Royal Bank Of Canada increased their price target on PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.29.

PTC Therapeutics Trading Up 0.1%

Shares of PTCT opened at $78.45 on Friday. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $90.87. The firm has a market capitalization of $6.51 billion, a P/E ratio of -33.67, a P/E/G ratio of 5.48 and a beta of 0.53. The firm has a 50-day moving average price of $77.08 and a 200 day moving average price of $72.82.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. PTC Therapeutics’s revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the business posted $10.04 EPS. Equities research analysts predict that PTC Therapeutics, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 5,079 shares of PTC Therapeutics stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $85.08, for a total transaction of $432,121.32. Following the sale, the vice president owned 105,272 shares of the company’s stock, valued at approximately $8,956,541.76. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 2,464 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the completion of the transaction, the insider owned 60,299 shares in the company, valued at $5,441,984.75. This represents a 3.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 198,662 shares of company stock worth $16,347,994 in the last 90 days. Insiders own 5.50% of the company’s stock.

PTC Therapeutics 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.