PTC Therapeutics, Inc. $PTCT Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 21,814.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,813 shares of the biopharmaceutical company’s stock after buying an additional 52,572 shares during the quarter. Bessemer Group Inc. owned 0.06% of PTC Therapeutics worth $3,598,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at $26,000. Comerica Bank grew its position in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 469 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics in the fourth quarter worth $41,000. Allworth Financial LP increased its position in PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 247 shares during the last quarter. Finally, First Horizon Corp bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $53,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings lowered PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Morgan Stanley reiterated an “overweight” rating and set a $94.00 target price on shares of PTC Therapeutics in a research note on Friday, May 8th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Royal Bank Of Canada raised their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company decreased their price target on PTC Therapeutics from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday. Two equities 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.29.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 5,079 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $85.08, for a total value of $432,121.32. Following the transaction, the vice president owned 105,272 shares of the company’s stock, valued at $8,956,541.76. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the completion of the sale, the director owned 21,813 shares of the company’s stock, valued at $1,963,170. This represents a 42.06% 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. In the last 90 days, insiders sold 198,662 shares of company stock worth $16,347,994. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

PTCT opened at $78.50 on Wednesday. The company’s 50 day simple moving average is $76.87 and its 200-day simple moving average is $72.80. The stock has a market capitalization of $6.51 billion, a P/E ratio of -33.69, a price-to-earnings-growth ratio of 4.69 and a beta of 0.53. PTC Therapeutics, Inc. has a one year low of $43.17 and a one year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released 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 company had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.04 earnings per share. As a group, analysts anticipate that PTC Therapeutics, Inc. will post 0.6 EPS for the current year.

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.