Charles Schwab Investment Management Inc. Cuts Stock Position in PTC Therapeutics, Inc. $PTCT

Charles Schwab Investment Management Inc. lowered its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 662,074 shares of the biopharmaceutical company’s stock after selling 23,635 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.84% of PTC Therapeutics worth $33,739,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PTCT. Sterling Capital Management LLC raised its holdings in shares of PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 522 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 441 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $77,000.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup increased their target price on PTC Therapeutics from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Truist Financial increased their price target on PTC Therapeutics from $80.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Robert W. Baird set a $70.00 price target on PTC Therapeutics in a report on Friday, August 8th. JPMorgan Chase & Co. cut their price target on PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Finally, UBS Group increased their price target on PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.15.

Insider Buying and Selling at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 10,739 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the completion of the transaction, the chief executive officer directly owned 337,767 shares in the company, valued at $17,476,064.58. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Pierre Gravier sold 2,516 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares of the company’s stock, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $49.80 on Tuesday. PTC Therapeutics, Inc. has a fifty-two week low of $30.41 and a fifty-two week high of $58.38. The stock has a 50 day moving average of $49.00 and a 200 day moving average of $49.04. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.14 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%. The business had revenue of $178.88 million during the quarter, compared to analyst estimates of $173.01 million. During the same period last year, the business posted ($1.29) earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.