Third Security LLC Sells 127,414 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Third Security LLC trimmed its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 53.8% during the first quarter, Holdings Channel reports. The firm owned 109,601 shares of the biopharmaceutical company’s stock after selling 127,414 shares during the quarter. PTC Therapeutics comprises about 0.7% of Third Security LLC’s holdings, making the stock its 4th largest position. Third Security LLC’s holdings in PTC Therapeutics were worth $5,190,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PTCT. RTW Investments LP lifted its stake in shares of PTC Therapeutics by 25.4% in the 1st quarter. RTW Investments LP now owns 5,293,966 shares of the biopharmaceutical company’s stock valued at $250,669,000 after purchasing an additional 1,072,130 shares during the period. Janus Henderson Group PLC raised its stake in PTC Therapeutics by 48.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,996,421 shares of the biopharmaceutical company’s stock worth $182,875,000 after buying an additional 977,858 shares during the period. Armistice Capital LLC raised its stake in PTC Therapeutics by 95.0% during the 1st quarter. Armistice Capital LLC now owns 1,396,000 shares of the biopharmaceutical company’s stock worth $66,101,000 after buying an additional 680,000 shares during the period. Norges Bank acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $33,828,000. Finally, Canada Pension Plan Investment Board acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $13,561,000.

In other news, VP Mark Elliott Boulding sold 7,805 shares of the firm’s stock in a transaction on Thursday, July 8th. The stock was sold at an average price of $45.22, for a total value of $352,942.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is owned by company insiders.

NASDAQ PTCT traded down $0.58 on Thursday, hitting $41.92. 6,864 shares of the stock traded hands, compared to its average volume of 364,613. The stock’s fifty day simple moving average is $41.79. PTC Therapeutics, Inc. has a 12 month low of $37.12 and a 12 month high of $70.82. The company has a current ratio of 4.47, a quick ratio of 4.41 and a debt-to-equity ratio of 3.80.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, May 4th. The biopharmaceutical company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($1.59) by ($0.24). PTC Therapeutics had a negative net margin of 105.50% and a negative return on equity of 95.96%. The firm had revenue of $117.94 million for the quarter, compared to the consensus estimate of $98.77 million. During the same period last year, the company posted ($1.81) earnings per share. PTC Therapeutics’s revenue for the quarter was up 72.8% on a year-over-year basis. Analysts forecast that PTC Therapeutics, Inc. will post -7.16 EPS for the current year.

A number of research firms recently weighed in on PTCT. Truist dropped their price target on PTC Therapeutics from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 17th. William Blair reaffirmed a “buy” rating on shares of PTC Therapeutics in a research note on Thursday, June 3rd. Credit Suisse Group started coverage on PTC Therapeutics in a research note on Monday, April 26th. They issued a “neutral” rating and a $54.00 price objective for the company. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, April 30th. Finally, Truist Securities lowered their price objective on PTC Therapeutics from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $63.36.

PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, including rare diseases and oncology.

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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