State of Wyoming Purchases 7,297 Shares of PTC Therapeutics, Inc. $PTCT

State of Wyoming grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 204.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,870 shares of the biopharmaceutical company’s stock after purchasing an additional 7,297 shares during the quarter. State of Wyoming’s holdings in PTC Therapeutics were worth $667,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PTCT. PNC Financial Services Group Inc. increased its position 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 worth $49,000 after buying an additional 295 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 814 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of PTC Therapeutics in the third quarter valued at about $92,000. Globeflex Capital L P acquired a new stake in PTC Therapeutics during the second quarter worth about $91,000. Finally, Plato Investment Management Ltd bought a new position in PTC Therapeutics during the second quarter valued at about $92,000.

Insider Activity

In related news, insider Eric Pauwels sold 1,024 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $78.70, for a total transaction of $80,588.80. Following the transaction, the insider owned 80,141 shares in the company, valued at $6,307,096.70. This represents a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christine Marie Utter sold 1,034 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $76.45, for a total transaction of $79,049.30. Following the sale, the chief accounting officer directly owned 72,693 shares in the company, valued at approximately $5,557,379.85. This represents a 1.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 291,016 shares of company stock worth $23,050,330. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Stock Down 0.9%

NASDAQ:PTCT opened at $74.88 on Tuesday. The firm has a market cap of $6.01 billion, a PE ratio of 8.75 and a beta of 0.48. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The company’s 50-day moving average price is $77.00 and its two-hundred day moving average price is $65.90.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.19) by $1.39. The company had revenue of $211.01 million during the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.39) earnings per share. On average, research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PTCT. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. The Goldman Sachs Group raised their price objective on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a report on Wednesday, November 5th. Jefferies Financial Group increased their price target on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Citigroup raised their price target on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

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.