PTC Therapeutics, Inc. $PTCT Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 12,362.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,447 shares of the biopharmaceutical company’s stock after acquiring an additional 17,307 shares during the period. Fifth Third Bancorp’s holdings in PTC Therapeutics were worth $1,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth $26,000. Comerica Bank raised its position in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in PTC Therapeutics during the fourth quarter worth approximately $41,000. IFP Advisors Inc grew its holdings in shares of PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 310 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 247 shares during the last quarter.

Insider Buying and Selling

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 24,613 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total transaction of $2,187,849.57. Following the transaction, the insider owned 60,299 shares of the company’s stock, valued at $5,359,978.11. The trade was a 28.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 12,572 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $72.95, for a total transaction of $917,127.40. Following the transaction, the chief executive officer owned 393,998 shares in the company, valued at $28,742,154.10. This represents a 3.09% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders sold 198,662 shares of company stock valued at $16,347,994. Company insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Down 2.1%

Shares of NASDAQ PTCT opened at $76.82 on Friday. The business has a 50 day moving average price of $77.19 and a two-hundred day moving average price of $72.85. The firm has a market cap of $6.37 billion, a PE ratio of -32.97, a price-to-earnings-growth ratio of 6.83 and a beta of 0.53. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $90.87.

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. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same period in the prior year, the company earned $10.04 earnings per share. The firm’s revenue was up 43.5% compared to the same quarter last year. On average, analysts anticipate that PTC Therapeutics, Inc. will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

PTCT has been the subject of a number of analyst reports. Morgan Stanley restated an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a research report on Friday, May 8th. Wells Fargo & Company decreased their target price on PTC Therapeutics from $95.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada raised their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Raymond James Financial began coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 target price for the company. Finally, Weiss Ratings downgraded shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.29.

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.