PTC Therapeutics, Inc. $PTCT Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lessened its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 14.1% in the first quarter, HoldingsChannel reports. The firm owned 94,687 shares of the biopharmaceutical company’s stock after selling 15,580 shares during the quarter. WCM Investment Management LLC’s holdings in PTC Therapeutics were worth $6,215,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. purchased a new position in PTC Therapeutics in the 4th quarter valued at about $26,000. Comerica Bank grew its holdings in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $41,000. IFP Advisors Inc raised its position in shares of PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 247 shares during the period.

PTC Therapeutics Stock Down 0.7%

NASDAQ:PTCT opened at $78.01 on Tuesday. The company has a market cap of $6.47 billion, a P/E ratio of -33.48, a P/E/G ratio of 4.72 and a beta of 0.53. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $90.87. The firm’s 50 day moving average is $76.80 and its two-hundred day moving average is $72.78.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same quarter last year, the business earned $10.04 EPS. PTC Therapeutics’s revenue for the quarter was up 43.5% on a year-over-year basis. Research analysts forecast that PTC Therapeutics, Inc. will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Eric Pauwels sold 21,277 shares of PTC Therapeutics stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total value of $1,595,775.00. Following the transaction, the insider owned 73,411 shares in the company, valued at approximately $5,505,825. This trade represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the sale, the director directly owned 21,813 shares of the company’s stock, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 198,662 shares of company stock worth $16,347,994. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

PTCT has been the subject of several recent analyst reports. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Weiss Ratings lowered PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Morgan Stanley restated an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $92.29.

PTC Therapeutics Company 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.