PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Third Security LLC

Third Security LLC cut its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 53.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,601 shares of the biopharmaceutical company’s stock after selling 127,414 shares during the quarter. PTC Therapeutics comprises 0.7% of Third Security LLC’s investment portfolio, making the stock its 4th largest holding. Third Security LLC owned approximately 0.16% of PTC Therapeutics worth $5,190,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. RTW Investments LP raised its stake in shares of PTC Therapeutics by 25.4% in the first quarter. RTW Investments LP now owns 5,293,966 shares of the biopharmaceutical company’s stock valued at $250,669,000 after purchasing an additional 1,072,130 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of PTC Therapeutics by 48.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,996,421 shares of the biopharmaceutical company’s stock valued at $182,875,000 after purchasing an additional 977,858 shares in the last quarter. Armistice Capital LLC raised its stake in shares of PTC Therapeutics by 95.0% in the first quarter. Armistice Capital LLC now owns 1,396,000 shares of the biopharmaceutical company’s stock valued at $66,101,000 after purchasing an additional 680,000 shares in the last quarter. Norges Bank acquired a new position in shares of PTC Therapeutics in the fourth quarter valued at $33,828,000. Finally, Canada Pension Plan Investment Board bought a new stake in PTC Therapeutics in the fourth quarter valued at $13,561,000.

NASDAQ:PTCT traded down $0.58 during mid-day trading on Thursday, hitting $41.92. The company had a trading volume of 6,864 shares, compared to its average volume of 364,613. PTC Therapeutics, Inc. has a fifty-two week low of $37.12 and a fifty-two week high of $70.82. The company has a fifty day moving average price of $41.79. The company has a current ratio of 4.47, a quick ratio of 4.41 and a debt-to-equity ratio of 3.80.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.59) by ($0.24). The business had revenue of $117.94 million for the quarter, compared to analyst estimates of $98.77 million. PTC Therapeutics had a negative return on equity of 95.96% and a negative net margin of 105.50%. The company’s revenue for the quarter was up 72.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.81) EPS. Sell-side analysts predict that PTC Therapeutics, Inc. will post -7.16 earnings per share for the current year.

A number of brokerages have weighed in on PTCT. William Blair reiterated a “buy” rating on shares of PTC Therapeutics in a research report on Thursday, June 3rd. Royal Bank of Canada upgraded PTC Therapeutics from an “underperform” rating to a “sector perform” rating and set a $47.00 price target on the stock in a research report on Monday, March 29th. They noted that the move was a valuation call. Credit Suisse Group began coverage on PTC Therapeutics in a research report on Monday, April 26th. They issued a “neutral” rating and a $54.00 price target on the stock. Truist lowered their price target on PTC Therapeutics from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, May 17th. Finally, Zacks Investment Research cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, April 30th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.36.

In other news, VP Mark Elliott Boulding sold 7,805 shares of the firm’s stock in a transaction dated Thursday, July 8th. The stock was sold at an average price of $45.22, for a total transaction of $352,942.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, including rare diseases and oncology.

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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