Allspring Global Investments Holdings LLC Has $31,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Allspring Global Investments Holdings LLC lessened its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 36.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,007 shares of the biopharmaceutical company’s stock after selling 567 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PTC Therapeutics were worth $31,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PTCT. Diversified Trust Co raised its holdings in PTC Therapeutics by 5.6% in the 2nd quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock worth $468,000 after acquiring an additional 818 shares during the period. ProShare Advisors LLC lifted its position in shares of PTC Therapeutics by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 1,564 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in PTC Therapeutics by 9.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,101 shares of the biopharmaceutical company’s stock valued at $643,000 after purchasing an additional 1,890 shares during the period. Los Angeles Capital Management LLC grew its holdings in PTC Therapeutics by 23.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 10,800 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 2,024 shares during the last quarter. Finally, Vise Technologies Inc. increased its position in PTC Therapeutics by 20.1% in the 4th quarter. Vise Technologies Inc. now owns 12,808 shares of the biopharmaceutical company’s stock worth $353,000 after buying an additional 2,140 shares during the period.

Insider Buying and Selling

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares of the company’s stock, valued at $1,821,124.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Stock Performance

PTCT opened at $31.42 on Tuesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -4.09 and a beta of 0.64. The firm’s 50-day simple moving average is $32.95 and its 200-day simple moving average is $32.10. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $41.27.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The business had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $192.12 million. As a group, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -5.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James raised PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Monday, May 20th. Robert W. Baird began coverage on shares of PTC Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $44.00 price target on the stock. UBS Group started coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research note on Wednesday, August 21st. Finally, Morgan Stanley boosted their price target on PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.13.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.