Jupiter Topco LLC Makes New Investment in PTC Therapeutics, Inc. $PTCT

Jupiter Topco LLC bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,236,402 shares of the biopharmaceutical company’s stock, valued at approximately $590,182,000. Jupiter Topco LLC owned about 0.09% of PTC Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of PTC Therapeutics by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 151 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in PTC Therapeutics by 8.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 244 shares during the last quarter. Allworth Financial LP raised its stake 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. Measured Wealth Private Client Group LLC lifted its holdings in PTC Therapeutics by 5.6% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after purchasing an additional 265 shares in the last quarter. Finally, Evolve Private Wealth LLC boosted its stake in PTC Therapeutics by 5.2% during the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 305 shares during the last quarter.

PTC Therapeutics Stock Up 3.4%

NASDAQ:PTCT opened at $73.47 on Wednesday. PTC Therapeutics, Inc. has a 52 week low of $48.28 and a 52 week high of $90.87. The stock’s fifty day moving average is $77.51 and its two-hundred day moving average is $72.31. The company has a market capitalization of $6.13 billion, a P/E ratio of -126.67, a P/E/G ratio of 2.19 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company’s revenue was up 101.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.83) EPS. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Christine Marie Utter sold 19,686 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $75.56, for a total value of $1,487,474.16. Following the sale, the chief accounting officer directly owned 70,199 shares of the company’s stock, valued at approximately $5,304,236.44. The trade was a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 21,813 shares in the company, valued at approximately $1,963,170. This represents a 42.06% decrease in their ownership of the stock. 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. Insiders have sold a total of 205,343 shares of company stock valued at $16,774,704 over the last three months. Company insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Finally, TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $90.00 in a report on Friday, May 8th. One research 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 given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.55.

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.