Pacer Advisors Inc. Reduces Position in PTC Therapeutics, Inc. $PTCT

Pacer Advisors Inc. lessened its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 32.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 503,966 shares of the biopharmaceutical company’s stock after selling 236,851 shares during the quarter. Pacer Advisors Inc.’s holdings in PTC Therapeutics were worth $30,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PTCT. Quantbot Technologies LP lifted its stake in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 551 shares in the last quarter. PNC Financial Services Group Inc. grew its stake 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 buying an additional 295 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 814 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of PTC Therapeutics during the third quarter worth $92,000. Finally, AlphaQuest LLC boosted its holdings in shares of PTC Therapeutics by 67.0% in the first quarter. AlphaQuest LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $92,000 after acquiring an additional 725 shares during the period.

Insider Buying and Selling

In other news, VP Mark Elliott Boulding sold 22,655 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $65.82, for a total value of $1,491,152.10. Following the completion of the transaction, the vice president directly owned 103,901 shares in the company, valued at approximately $6,838,763.82. This represents a 17.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allan Steven Jacobson sold 14,199 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $83.55, for a total value of $1,186,326.45. Following the transaction, the director directly owned 17,451 shares in the company, valued at approximately $1,458,031.05. This represents a 44.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 358,330 shares of company stock valued at $26,773,715 in the last three months. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Trading Up 0.2%

PTCT stock opened at $78.56 on Friday. The company’s 50 day moving average is $74.73 and its 200 day moving average is $60.92. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.28 and a beta of 0.47. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $1.39. The business had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.39) EPS. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PTCT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Wells Fargo & Company lifted their target price on PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Jefferies Financial Group upped their price target on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday. Finally, Citigroup boosted their price objective on shares of PTC Therapeutics from $50.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PTC Therapeutics presently has an average rating of “Hold” and an average target price of $76.00.

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.