PTC Therapeutics, Inc. (PTCT) Stake Boosted by State Street Corp
State Street Corp increased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 219.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,896,674 shares of the biopharmaceutical company’s stock after buying an additional 1,302,278 shares during the period. State Street Corp owned approximately 0.06% of PTC Therapeutics worth $18,668,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Camber Capital Management LLC bought a new stake in PTC Therapeutics during the first quarter valued at about $12,300,000. Teachers Advisors LLC increased its stake in PTC Therapeutics by 426.1% in the fourth quarter. Teachers Advisors LLC now owns 275,371 shares of the biopharmaceutical company’s stock valued at $3,004,000 after buying an additional 223,033 shares during the period. Dimensional Fund Advisors LP increased its stake in PTC Therapeutics by 67.3% in the first quarter. Dimensional Fund Advisors LP now owns 522,626 shares of the biopharmaceutical company’s stock valued at $5,143,000 after buying an additional 210,166 shares during the period. Vanguard Group Inc. increased its stake in PTC Therapeutics by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,020,039 shares of the biopharmaceutical company’s stock valued at $19,877,000 after buying an additional 101,331 shares during the period. Finally, Chicago Equity Partners LLC bought a new stake in PTC Therapeutics during the first quarter valued at about $561,000. Institutional investors own 76.12% of the company’s stock.
Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) traded down 0.06% during mid-day trading on Wednesday, reaching $18.01. The company had a trading volume of 125,543 shares. PTC Therapeutics, Inc. has a 12 month low of $4.03 and a 12 month high of $21.85. The company’s market capitalization is $743.89 million. The firm’s 50-day moving average is $19.46 and its 200 day moving average is $14.19.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.45. PTC Therapeutics had a negative return on equity of 51.81% and a negative net margin of 36.44%. The business had revenue of $47.96 million during the quarter, compared to analysts’ expectations of $28.78 million. During the same quarter last year, the company posted ($1.14) earnings per share. PTC Therapeutics’s quarterly revenue was up 206.9% on a year-over-year basis. On average, equities research analysts predict that PTC Therapeutics, Inc. will post ($2.29) earnings per share for the current year.
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Several analysts have recently issued reports on PTCT shares. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Royal Bank Of Canada set a $12.00 price target on PTC Therapeutics and gave the stock a “hold” rating in a research note on Monday, May 8th. Citigroup Inc. reiterated a “buy” rating and set a $17.00 price target (down previously from $28.00) on shares of PTC Therapeutics in a research note on Thursday, July 20th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $21.00 price target (up previously from $15.00) on shares of PTC Therapeutics in a research note on Friday, June 30th. Finally, BidaskClub downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. PTC Therapeutics presently has a consensus rating of “Hold” and an average target price of $15.11.
In other PTC Therapeutics news, Director Dawn Svoronos purchased 25,000 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, May 23rd. The stock was acquired at an average price of $13.49 per share, for a total transaction of $337,250.00. Following the completion of the acquisition, the director now owns 25,000 shares of the company’s stock, valued at approximately $337,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.10% of the company’s stock.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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