AlphaQuest LLC Increases Stake in PTC Therapeutics, Inc. $PTCT

AlphaQuest LLC lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 67.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,807 shares of the biopharmaceutical company’s stock after acquiring an additional 725 shares during the quarter. AlphaQuest LLC’s holdings in PTC Therapeutics were worth $92,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PTCT. Quantbot Technologies LP raised its holdings in shares of PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 551 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 441 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PTC Therapeutics in the first quarter valued at about $61,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $73,000.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $52.43 on Wednesday. PTC Therapeutics, Inc. has a 1-year low of $30.41 and a 1-year high of $58.38. The stock’s 50-day moving average is $48.79 and its 200 day moving average is $49.04. The company has a market cap of $4.17 billion, a P/E ratio of 7.52 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The company had revenue of $178.88 million during the quarter, compared to analysts’ expectations of $173.01 million. During the same period last year, the business posted ($1.29) earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the sale, the chief financial officer directly owned 71,920 shares in the company, valued at approximately $3,557,163.20. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the sale, the chief executive officer owned 337,767 shares of the company’s stock, valued at approximately $17,476,064.58. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,589 shares of company stock worth $847,277. 5.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on PTCT shares. Truist Financial lifted their price objective on PTC Therapeutics from $80.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Morgan Stanley decreased their price objective on PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Friday, August 8th. UBS Group raised their price objective on PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.15.

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.