Los Angeles Capital Management LLC Sells 15,026 Shares of PTC Therapeutics, Inc. $PTCT

Los Angeles Capital Management LLC reduced its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 31.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,421 shares of the biopharmaceutical company’s stock after selling 15,026 shares during the period. Los Angeles Capital Management LLC’s holdings in PTC Therapeutics were worth $2,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its holdings in PTC Therapeutics by 86.9% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock worth $3,103,000 after purchasing an additional 19,000 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in PTC Therapeutics in the 4th quarter worth about $4,191,000. Jefferies Financial Group Inc. acquired a new position in PTC Therapeutics in the 3rd quarter worth about $97,252,000. Ritholtz Wealth Management acquired a new position in PTC Therapeutics in the 4th quarter worth about $1,863,000. Finally, Comerica Bank increased its holdings in PTC Therapeutics by 3,231.9% in the 4th quarter. Comerica Bank now owns 17,426 shares of the biopharmaceutical company’s stock worth $1,324,000 after purchasing an additional 16,903 shares in the last quarter.

Insider Transactions at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 2,812 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $72.18, for a total transaction of $202,970.16. Following the completion of the sale, the vice president owned 105,212 shares in the company, valued at $7,594,202.16. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 52,003 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total value of $3,590,287.12. Following the sale, the insider owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. This represents a 46.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 79,533 shares of company stock worth $5,576,281. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Up 4.0%

Shares of PTCT stock opened at $73.68 on Wednesday. The stock has a 50-day moving average of $70.13 and a 200-day moving average of $72.20. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $87.50. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of -31.62, a PEG ratio of 5.98 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter last year, the firm posted $10.04 earnings per share. The firm’s revenue was up 43.5% on a year-over-year basis. Sell-side analysts forecast that PTC Therapeutics, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PTCT shares. Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Raymond James Financial started coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price for the company. Bank of America lowered their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a report on Friday, February 20th. Barclays reissued an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $91.36.

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.