PTC Therapeutics, Inc. $PTCT Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,435 shares of the biopharmaceutical company’s stock after purchasing an additional 2,140 shares during the quarter. Acadian Asset Management LLC’s holdings in PTC Therapeutics were worth $1,904,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. boosted its position in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC boosted its position in PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 441 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PTC Therapeutics during the 1st quarter worth $61,000. Finally, GF Fund Management CO. LTD. acquired a new position in PTC Therapeutics during the 4th quarter worth $73,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial boosted their price target on PTC Therapeutics from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Wall Street Zen lowered PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Robert W. Baird set a $70.00 price objective on PTC Therapeutics in a research note on Friday, August 8th. Wells Fargo & Company dropped their price objective on PTC Therapeutics from $79.00 to $73.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Morgan Stanley dropped their price objective on PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Activity

In related news, Director David P. Southwell sold 12,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $58.34, for a total transaction of $700,080.00. Following the transaction, the director directly owned 16,850 shares of the company’s stock, valued at approximately $983,029. The trade was a 41.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Pauwels sold 39,850 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $56.92, for a total value of $2,268,262.00. Following the completion of the transaction, the insider directly owned 72,912 shares in the company, valued at approximately $4,150,151.04. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,393 shares of company stock valued at $7,640,615 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Up 1.2%

Shares of PTC Therapeutics stock opened at $59.69 on Wednesday. The stock’s fifty day moving average is $50.73 and its 200-day moving average is $49.57. The firm has a market capitalization of $4.74 billion, a PE ratio of 8.56 and a beta of 0.53. PTC Therapeutics, Inc. has a 12-month low of $33.88 and a 12-month high of $62.18.

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

About PTC Therapeutics

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.