PTC Therapeutics, Inc. $PTCT Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 458.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,832 shares of the biopharmaceutical company’s stock after buying an additional 22,851 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PTC Therapeutics were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC grew its stake in shares of PTC Therapeutics by 337.7% in the second quarter. AlphaQuest LLC now owns 7,909 shares of the biopharmaceutical company’s stock valued at $386,000 after buying an additional 6,102 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics in the first quarter valued at $524,000. Sector Gamma AS grew its stake in shares of PTC Therapeutics by 41.4% in the first quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company’s stock valued at $4,701,000 after buying an additional 27,000 shares in the last quarter. Deutsche Bank AG boosted its holdings in PTC Therapeutics by 262.1% in the first quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company’s stock valued at $17,414,000 after purchasing an additional 247,346 shares during the period. Finally, Cerity Partners LLC purchased a new position in PTC Therapeutics in the first quarter valued at $641,000.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 3,375 shares of PTC Therapeutics stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $63.43, for a total transaction of $214,076.25. Following the completion of the sale, the vice president directly owned 103,901 shares of the company’s stock, valued at $6,590,440.43. The trade was a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Allan Steven Jacobson sold 12,000 shares of PTC Therapeutics stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $65.00, for a total value of $780,000.00. Following the sale, the director directly owned 17,451 shares of the company’s stock, valued at $1,134,315. This trade represents a 40.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 265,401 shares of company stock valued at $16,556,457 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $68.31 on Monday. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 9.80 and a beta of 0.55. The business has a 50-day moving average of $61.23 and a two-hundred day moving average of $52.88. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $69.88.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PTCT. UBS Group lifted their target price on PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Truist Financial lifted their target price on PTC Therapeutics from $80.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a report on Friday, August 8th. Wells Fargo & Company began coverage on PTC Therapeutics in a report on Monday, October 20th. They issued an “overweight” rating and a $73.00 target price for the company. Finally, Bank of America decreased their target price on PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Ten research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.