SG Americas Securities LLC Has $67.94 Million Stock Holdings in PTC Therapeutics, Inc. $PTCT

SG Americas Securities LLC boosted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 587.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 894,461 shares of the biopharmaceutical company’s stock after purchasing an additional 764,364 shares during the quarter. SG Americas Securities LLC owned about 1.11% of PTC Therapeutics worth $67,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in shares of PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares during the period. Optiver Holding B.V. boosted its holdings in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares during the period. Comerica Bank grew its stake in 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 last quarter. IFP Advisors Inc grew its stake in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 295 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PTCT shares. Cantor Fitzgerald restated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Bank of America decreased their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of PTC Therapeutics in a report on Monday, February 23rd. Finally, Royal Bank Of Canada lowered their price objective on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Friday, February 20th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.79.

PTC Therapeutics Trading Down 2.8%

NASDAQ PTCT opened at $64.54 on Wednesday. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 8.34 and a beta of 0.51. The company has a 50 day moving average of $70.26 and a 200-day moving average of $70.69. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.

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

Insider Activity at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 3,019 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $69.48, for a total transaction of $209,760.12. Following the completion of the sale, the vice president owned 105,212 shares of the company’s stock, valued at $7,310,129.76. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew B. Klein sold 2,662 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $64.08, for a total transaction of $170,580.96. Following the sale, the chief executive officer owned 396,920 shares in the company, valued at $25,434,633.60. The trade was a 0.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 137,755 shares of company stock worth $9,945,471 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

About PTC Therapeutics

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.