Vontobel Holding Ltd. Decreases Stock Holdings in PTC Therapeutics, Inc. $PTCT

Vontobel Holding Ltd. trimmed its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 30.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,536 shares of the biopharmaceutical company’s stock after selling 3,320 shares during the quarter. Vontobel Holding Ltd.’s holdings in PTC Therapeutics were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PTCT. Nuveen LLC bought a new stake in shares of PTC Therapeutics in the first quarter valued at about $51,427,000. Wellington Management Group LLP raised its holdings in shares of PTC Therapeutics by 13.2% in the first quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company’s stock valued at $276,161,000 after acquiring an additional 632,049 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of PTC Therapeutics by 45.3% in the first quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company’s stock valued at $77,084,000 after acquiring an additional 471,586 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of PTC Therapeutics by 86.9% in the second quarter. Assenagon Asset Management S.A. now owns 631,622 shares of the biopharmaceutical company’s stock valued at $30,848,000 after acquiring an additional 293,662 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of PTC Therapeutics by 94.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 595,000 shares of the biopharmaceutical company’s stock valued at $30,321,000 after acquiring an additional 288,244 shares in the last quarter.

PTC Therapeutics Stock Up 0.0%

Shares of NASDAQ PTCT opened at $66.09 on Wednesday. PTC Therapeutics, Inc. has a 52 week low of $35.51 and a 52 week high of $67.40. The business’s 50 day moving average price is $56.31 and its 200 day moving average price is $50.69. The firm has a market cap of $5.25 billion, a P/E ratio of 9.48 and a beta of 0.55.

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

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $66.05, for a total transaction of $3,632,750.00. Following the completion of the transaction, the insider directly owned 100,625 shares of the company’s stock, valued at approximately $6,646,281.25. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric Pauwels sold 39,850 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $56.92, for a total transaction of $2,268,262.00. Following the transaction, the insider directly owned 72,912 shares of the company’s stock, valued at $4,150,151.04. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,735 shares of company stock worth $15,467,670 in the last ninety days. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of PTC Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of PTC Therapeutics from $79.00 to $73.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Morgan Stanley decreased their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Friday, August 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.