Wellington Management Group LLP lowered its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 70.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,051,657 shares of the biopharmaceutical company’s stock after selling 2,504,969 shares during the period. Wellington Management Group LLP owned approximately 3.08% of PTC Therapeutics worth $10,349,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of PTCT. Russell Investments Group Ltd. bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at $403,000. Teachers Advisors LLC raised its stake in shares of PTC Therapeutics by 426.1% in the fourth quarter. Teachers Advisors LLC now owns 275,371 shares of the biopharmaceutical company’s stock valued at $3,004,000 after buying an additional 223,033 shares during the last quarter. AXA acquired a new stake in shares of PTC Therapeutics during the first quarter valued at approximately $103,000. Canada Pension Plan Investment Board raised its stake in shares of PTC Therapeutics by 172.5% in the first quarter. Canada Pension Plan Investment Board now owns 40,600 shares of the biopharmaceutical company’s stock valued at $400,000 after buying an additional 25,700 shares during the last quarter. Finally, C WorldWide Group Holding A S raised its stake in shares of PTC Therapeutics by 9.2% in the first quarter. C WorldWide Group Holding A S now owns 158,686 shares of the biopharmaceutical company’s stock valued at $1,561,000 after buying an additional 13,364 shares during the last quarter. 76.43% of the stock is owned by institutional investors.
PTC Therapeutics, Inc. (NASDAQ:PTCT) traded up 2.43% during mid-day trading on Friday, reaching $20.66. The company’s stock had a trading volume of 289,286 shares. PTC Therapeutics, Inc. has a 12-month low of $4.03 and a 12-month high of $21.85. The company has a 50-day moving average price of $18.77 and a 200-day moving average price of $13.77. The firm’s market cap is $708.97 million.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.03. The company had revenue of $26.50 million for the quarter, compared to analyst estimates of $27.93 million. PTC Therapeutics had a negative net margin of 143.80% and a negative return on equity of 98.77%. PTC Therapeutics’s revenue was up 40.2% on a year-over-year basis. During the same period in the previous year, the business posted ($1.22) EPS. On average, equities research analysts expect that PTC Therapeutics, Inc. will post ($3.51) earnings per share for the current year.
Several equities research analysts recently commented on the company. Royal Bank Of Canada set a $12.00 target price on PTC Therapeutics and gave the company a “hold” rating in a report on Monday, May 8th. Zacks Investment Research lowered PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $21.00 price target (up from $15.00) on shares of PTC Therapeutics in a research report on Friday, June 30th. Finally, Citigroup Inc. set a $18.00 price target on PTC Therapeutics and gave the company a “buy” rating in a research report on Wednesday, June 7th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.11.
In related news, Director Dawn Svoronos acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were purchased at an average cost of $13.49 per share, for a total transaction of $337,250.00. Following the acquisition, the director now owns 25,000 shares in the company, valued at approximately $337,250. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.10% of the company’s stock.
PTC Therapeutics Company Profile
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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