Vise Technologies Inc. Makes New Investment in PTC Therapeutics, Inc. $PTCT

Vise Technologies Inc. bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the second quarter, Holdings Channel.com reports. The firm bought 8,560 shares of the biopharmaceutical company’s stock, valued at approximately $698,000.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at $26,000. Comerica Bank increased its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares during the period. IFP Advisors Inc increased its holdings in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 310 shares during the period. Allworth Financial LP lifted its position 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 last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares during the last quarter.

PTC Therapeutics Price Performance

Shares of PTCT opened at $69.82 on Monday. The firm has a 50-day moving average price of $77.62 and a 200 day moving average price of $72.34. The firm has a market capitalization of $5.83 billion, a PE ratio of -120.38, a P/E/G ratio of 2.15 and a beta of 0.56. PTC Therapeutics, Inc. has a 52-week low of $48.28 and a 52-week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The firm had revenue of $360.52 million for the quarter, compared to analysts’ expectations of $298.63 million. During the same quarter last year, the company earned ($0.83) EPS. PTC Therapeutics’s quarterly revenue was up 101.5% on a year-over-year basis. On average, equities analysts expect that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PTCT. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Cantor Fitzgerald lifted their price target on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $90.00 in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

Insiders Place Their Bets

In other PTC Therapeutics news, CAO Christine Marie Utter sold 19,686 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total value of $1,487,474.16. Following the completion of the sale, the chief accounting officer directly owned 70,199 shares in the company, valued at $5,304,236.44. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Schmertzler sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total value of $916,500.00. Following the completion of the sale, the director owned 1,374,094 shares of the company’s stock, valued at $100,748,572.08. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 205,343 shares of company stock valued at $16,774,704. 5.30% of the stock is currently owned by insiders.

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.