Man Group plc Lowers Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Man Group plc lowered its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 56.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,757 shares of the biopharmaceutical company’s stock after selling 81,844 shares during the quarter. Man Group plc owned 0.10% of PTC Therapeutics worth $2,156,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PTCT. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PTC Therapeutics by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 474 shares during the period. Sicart Associates LLC raised its position in PTC Therapeutics by 6.7% in the 3rd quarter. Sicart Associates LLC now owns 8,725 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 550 shares during the period. Strs Ohio raised its position in PTC Therapeutics by 7.3% in the 2nd quarter. Strs Ohio now owns 14,700 shares of the biopharmaceutical company’s stock worth $661,000 after purchasing an additional 1,000 shares during the period. Rhumbline Advisers raised its position in PTC Therapeutics by 1.3% in the 3rd quarter. Rhumbline Advisers now owns 80,822 shares of the biopharmaceutical company’s stock worth $2,733,000 after purchasing an additional 1,057 shares during the period. Finally, California State Teachers Retirement System raised its position in PTC Therapeutics by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 89,240 shares of the biopharmaceutical company’s stock worth $3,018,000 after purchasing an additional 1,066 shares during the period. Hedge funds and other institutional investors own 99.31% of the company’s stock.

PTCT has been the topic of a number of analyst reports. SunTrust Banks initiated coverage on shares of PTC Therapeutics in a research report on Tuesday, November 12th. They issued a “buy” rating and a $78.00 target price on the stock. ValuEngine cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Zacks Investment Research cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, October 30th. Finally, Citigroup set a $62.00 target price on shares of PTC Therapeutics and gave the stock a “buy” rating in a research report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $54.78.

In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 22,463 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $49.43, for a total value of $1,110,346.09. 7.00% of the stock is owned by company insiders.

Shares of PTC Therapeutics stock opened at $47.72 on Friday. The firm has a market cap of $2.97 billion, a PE ratio of -25.93 and a beta of 1.90. PTC Therapeutics, Inc. has a 12-month low of $27.53 and a 12-month high of $50.96. The company has a quick ratio of 4.30, a current ratio of 4.40 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $43.79 and its two-hundred day simple moving average is $42.28.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.15). The firm had revenue of $71.40 million during the quarter, compared to the consensus estimate of $72.03 million. PTC Therapeutics had a negative return on equity of 31.92% and a negative net margin of 74.86%. PTC Therapeutics’s revenue was up 33.2% on a year-over-year basis. During the same period last year, the business earned ($1.06) EPS. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post -3.1 earnings per share for the current fiscal year.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

Read More: Are sell-side analysts objective?

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

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.