KBC Group NV Sells 724 Shares of PTC Therapeutics, Inc. $PTCT

KBC Group NV reduced its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 23.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,347 shares of the biopharmaceutical company’s stock after selling 724 shares during the period. KBC Group NV’s holdings in PTC Therapeutics were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTCT. Nuveen LLC bought a new stake in PTC Therapeutics in the 1st quarter worth approximately $51,427,000. Wellington Management Group LLP boosted its position in shares of PTC Therapeutics by 13.2% during the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company’s stock valued at $276,161,000 after acquiring an additional 632,049 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of PTC Therapeutics by 45.3% in the first quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company’s stock valued at $77,084,000 after purchasing an additional 471,586 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of PTC Therapeutics by 86.9% in the second quarter. Assenagon Asset Management S.A. now owns 631,622 shares of the biopharmaceutical company’s stock valued at $30,848,000 after purchasing an additional 293,662 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in PTC Therapeutics by 94.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 595,000 shares of the biopharmaceutical company’s stock worth $30,321,000 after purchasing an additional 288,244 shares during the last quarter.

Analyst Upgrades and Downgrades

PTCT has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. UBS Group boosted their target price on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Barclays increased their price target on shares of PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Finally, Jefferies Financial Group boosted their price objective on PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Insider Activity

In other news, VP Mark Elliott Boulding sold 24,585 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $61.34, for a total value of $1,508,043.90. Following the sale, the vice president directly owned 103,901 shares in the company, valued at approximately $6,373,287.34. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Emma Reeve sold 25,562 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $65.96, for a total value of $1,686,069.52. Following the sale, the director directly owned 10,332 shares of the company’s stock, valued at $681,498.72. This represents a 71.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 264,807 shares of company stock valued at $16,760,813. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Trading Up 2.6%

PTC Therapeutics stock opened at $78.47 on Friday. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $79.98. The firm has a 50-day moving average price of $67.03 and a 200-day moving average price of $55.46. The firm has a market capitalization of $6.30 billion, a PE ratio of 11.26 and a beta of 0.60.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The company had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. During the same period in the prior year, the firm posted ($1.39) EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.