PTC Therapeutics, Inc. $PTCT Stock Holdings Boosted by AlphaQuest LLC

AlphaQuest LLC lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 337.7% in the 2nd quarter, Holdings Channel reports. The fund owned 7,909 shares of the biopharmaceutical company’s stock after buying an additional 6,102 shares during the period. AlphaQuest LLC’s holdings in PTC Therapeutics were worth $386,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PTCT. Nuveen LLC bought a new position in shares of PTC Therapeutics during the first quarter worth about $51,427,000. Wellington Management Group LLP grew its position in shares of PTC Therapeutics by 13.2% during the first quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company’s stock worth $276,161,000 after acquiring an additional 632,049 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of PTC Therapeutics by 45.3% during the first quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company’s stock worth $77,084,000 after acquiring an additional 471,586 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of PTC Therapeutics by 86.9% during the second quarter. Assenagon Asset Management S.A. now owns 631,622 shares of the biopharmaceutical company’s stock worth $30,848,000 after acquiring an additional 293,662 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of PTC Therapeutics by 94.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 595,000 shares of the biopharmaceutical company’s stock worth $30,321,000 after acquiring an additional 288,244 shares during the last quarter.

Insider Activity at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 24,585 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $61.34, for a total transaction of $1,508,043.90. Following the completion of the transaction, the vice president owned 103,901 shares in the company, valued at approximately $6,373,287.34. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Neil Gregory Almstead sold 55,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $66.05, for a total transaction of $3,632,750.00. Following the transaction, the insider owned 100,625 shares of the company’s stock, valued at approximately $6,646,281.25. This trade represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 249,735 shares of company stock worth $15,467,670. Company insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Up 1.1%

NASDAQ:PTCT opened at $68.11 on Friday. PTC Therapeutics, Inc. has a twelve month low of $35.95 and a twelve month high of $69.88. The company has a 50-day moving average of $60.87 and a 200-day moving average of $52.64. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 9.77 and a beta of 0.55.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PTCT. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. Bank of America decreased their target price on shares of PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Citigroup increased their target price on shares of PTC Therapeutics from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PTC Therapeutics in a research report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.57.

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.