PTC Therapeutics, Inc. $PTCT Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 14.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,536 shares of the biopharmaceutical company’s stock after selling 68,222 shares during the period. Rockefeller Capital Management L.P.’s holdings in PTC Therapeutics were worth $30,805,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of PTC Therapeutics in the first quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after purchasing an additional 18,504 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in PTC Therapeutics in the second quarter worth about $1,661,000. Finally, EverSource Wealth Advisors LLC grew 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 buying an additional 814 shares in the last quarter.

PTC Therapeutics Price Performance

PTCT stock opened at $78.98 on Monday. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50. The firm has a market cap of $6.55 billion, a PE ratio of -33.90, a P/E/G ratio of 3.63 and a beta of 0.55. The firm has a 50 day simple moving average of $71.37 and a 200 day simple moving average of $71.88.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The firm had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period last year, the firm posted $10.04 earnings per share. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on PTCT. Barclays restated an “overweight” rating and set a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. 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. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.36.

Insider Activity at PTC Therapeutics

In related news, insider Eric Pauwels sold 21,277 shares of the 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 completion of the transaction, the insider owned 73,411 shares in the company, valued at $5,505,825. This trade represents a 22.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lee Scott Golden sold 829 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total value of $56,363.71. Following the sale, the executive vice president owned 79,115 shares in the company, valued at approximately $5,379,028.85. The trade was a 1.04% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 98,148 shares of company stock worth $7,001,475. 5.50% of the stock is owned by corporate 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.