PTC Therapeutics, Inc. $PTCT Stake Reduced by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,081 shares of the biopharmaceutical company’s stock after selling 5,600 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.08% of PTC Therapeutics worth $3,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP raised its position in PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 551 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 320 shares during the period. GAMMA Investing LLC raised its holdings in PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 441 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PTC Therapeutics during the 1st quarter worth about $61,000. Finally, GF Fund Management CO. LTD. acquired a new stake in PTC Therapeutics during the 4th quarter worth about $73,000.

Insider Transactions at PTC Therapeutics

In related news, Director Allan Steven Jacobson sold 1,667 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $50.15, for a total value of $83,600.05. Following the completion of the transaction, the director directly owned 17,451 shares of the company’s stock, valued at $875,167.65. This trade represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Pauwels sold 39,850 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $56.92, for a total value of $2,268,262.00. Following the completion of the transaction, the insider directly owned 72,912 shares of the company’s stock, valued at approximately $4,150,151.04. This trade represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,439 shares of company stock valued at $3,815,619 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

PTCT has been the topic of several recent analyst reports. Truist Financial boosted their price objective on PTC Therapeutics from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Robert W. Baird set a $70.00 price objective on PTC Therapeutics in a report on Friday, August 8th. Barclays boosted their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 target price on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Finally, Wall Street Zen cut PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

PTC Therapeutics Stock Up 0.2%

Shares of PTC Therapeutics stock opened at $61.09 on Friday. The stock has a market capitalization of $4.85 billion, a P/E ratio of 8.76 and a beta of 0.53. The stock has a 50 day moving average price of $50.27 and a two-hundred day moving average price of $49.49. PTC Therapeutics, Inc. has a 12-month low of $33.19 and a 12-month high of $62.18.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating 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 company had revenue of $178.88 million during the quarter, compared to analysts’ expectations of $173.01 million. During the same period in the prior year, the business earned ($1.29) earnings per share. PTC Therapeutics’s revenue for the quarter was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

PTC Therapeutics Company Profile

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.