MANA Advisors LLC bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,247 shares of the biopharmaceutical company’s stock, valued at approximately $221,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its position in PTC Therapeutics by 12.8% during the 2nd quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 1,866 shares during the period. Oppenheimer & Co. Inc. increased its position in PTC Therapeutics by 15.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 17,493 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 2,400 shares during the period. Rhumbline Advisers increased its position in PTC Therapeutics by 8.6% during the 3rd quarter. Rhumbline Advisers now owns 42,103 shares of the biopharmaceutical company’s stock valued at $842,000 after purchasing an additional 3,335 shares during the period. Public Employees Retirement System of Ohio increased its position in PTC Therapeutics by 49.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,582 shares of the biopharmaceutical company’s stock valued at $232,000 after purchasing an additional 3,835 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in PTC Therapeutics during the 3rd quarter valued at approximately $102,000. 91.87% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Stuart Walter Peltz sold 2,230 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the transaction, the chief executive officer now directly owns 26,646 shares in the company, valued at approximately $480,427.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 2,719 shares of company stock worth $48,848. 8.10% of the stock is owned by company insiders.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, March 6th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.17. The firm had revenue of $78.00 million for the quarter, compared to analysts’ expectations of $78.59 million. PTC Therapeutics had a negative return on equity of 50.75% and a negative net margin of 40.64%. The company’s revenue for the quarter was up 209.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.78) EPS. analysts predict that PTC Therapeutics, Inc. will post -1.4 earnings per share for the current year.
A number of research firms have weighed in on PTCT. Barclays reissued an “equal weight” rating and set a $24.00 target price (up previously from $18.00) on shares of PTC Therapeutics in a research report on Wednesday, March 7th. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Saturday. Credit Suisse Group restated a “buy” rating and set a $28.00 price target on shares of PTC Therapeutics in a report on Tuesday, January 30th. William Blair restated a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, March 7th. Finally, Royal Bank of Canada initiated coverage on PTC Therapeutics in a report on Monday, January 29th. They set a “sector perform” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.57.
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About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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