Hsbc Holdings PLC Acquires 214,931 Shares of PTC Therapeutics, Inc. $PTCT

Hsbc Holdings PLC increased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 1,772.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 227,059 shares of the biopharmaceutical company’s stock after buying an additional 214,931 shares during the quarter. Hsbc Holdings PLC owned about 0.27% of PTC Therapeutics worth $15,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PTCT. UMB Bank n.a. bought a new position in PTC Therapeutics in the 4th quarter valued at $26,000. Comerica Bank grew its stake in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at $41,000. IFP Advisors Inc increased its position in shares of PTC Therapeutics by 68.1% during 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 period. Finally, Allworth Financial LP boosted its holdings in PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Weiss Ratings lowered shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. Finally, Cantor Fitzgerald raised their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and an average price target of $92.29.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 2,464 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.25, for a total value of $222,376.00. Following the sale, the insider directly owned 60,299 shares of the company’s stock, valued at approximately $5,441,984.75. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the sale, the director directly owned 21,813 shares of the company’s stock, valued at $1,963,170. This represents a 42.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 198,662 shares of company stock worth $16,347,994. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $78.40 on Thursday. The stock’s fifty day moving average is $76.97 and its 200 day moving average is $72.81. The firm has a market capitalization of $6.50 billion, a PE ratio of -33.65, a PEG 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.

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

PTC Therapeutics 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.