Edgestream Partners L.P. Takes $566,000 Position in PTC Therapeutics, Inc. $PTCT

Edgestream Partners L.P. acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,314 shares of the biopharmaceutical company’s stock, valued at approximately $566,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its position in shares of PTC Therapeutics by 86.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock worth $3,103,000 after buying an additional 19,000 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of PTC Therapeutics during the fourth quarter worth approximately $4,191,000. Ritholtz Wealth Management bought a new stake in shares of PTC Therapeutics during the fourth quarter worth approximately $1,863,000. Royce & Associates LP lifted its holdings in PTC Therapeutics by 146.5% in the fourth quarter. Royce & Associates LP now owns 80,794 shares of the biopharmaceutical company’s stock valued at $6,137,000 after buying an additional 48,015 shares during the period. Finally, M&T Bank Corp acquired a new position in PTC Therapeutics in the fourth quarter valued at approximately $1,859,000.

Insider Buying and Selling

In related news, Director Mary L. Smith sold 15,834 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the sale, the director owned 21,813 shares of the company’s stock, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their position. The sale was disclosed in a filing with the SEC, 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 PTC Therapeutics stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.25, for a total value of $222,376.00. Following the transaction, the insider owned 60,299 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 198,662 shares of company stock valued at $16,347,994. 5.30% of the stock is owned by company insiders.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $69.10 on Wednesday. The company has a 50 day moving average price of $77.59 and a two-hundred day moving average price of $72.60. The company has a market capitalization of $5.77 billion, a PE ratio of -119.14, a PEG ratio of 2.61 and a beta of 0.56. PTC Therapeutics, Inc. has a 52 week low of $43.17 and a 52 week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company had revenue of $360.52 million for the quarter, compared to analysts’ expectations of $298.63 million. During the same period last year, the firm posted ($0.83) earnings per share. The business’s quarterly revenue was up 101.5% compared to the same quarter last year. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Wells Fargo & Company upped their target price on shares of PTC Therapeutics from $93.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley increased their price target on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday. Wall Street Zen upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research raised PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.75.

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.