QRG Capital Management Inc. Takes Position in PTC Therapeutics, Inc. $PTCT

QRG Capital Management Inc. acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 34,059 shares of the biopharmaceutical company’s stock, valued at approximately $2,090,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PTCT. AlphaQuest LLC raised its holdings in PTC Therapeutics by 337.7% during the second quarter. AlphaQuest LLC now owns 7,909 shares of the biopharmaceutical company’s stock worth $386,000 after purchasing an additional 6,102 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of PTC Therapeutics in the second quarter valued at $486,000. Prudential Financial Inc. raised its stake in shares of PTC Therapeutics by 35.5% during the 2nd quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company’s stock worth $4,115,000 after buying an additional 22,060 shares during the last quarter. Hussman Strategic Advisors Inc. raised its stake in shares of PTC Therapeutics by 200.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock worth $3,077,000 after buying an additional 42,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of PTC Therapeutics by 458.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 27,832 shares of the biopharmaceutical company’s stock worth $1,359,000 after buying an additional 22,851 shares in the last quarter.

Wall Street Analyst Weigh In

PTCT has been the subject of several recent research reports. Wall Street Zen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Citigroup raised their price objective on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. TD Cowen upped their target price on PTC Therapeutics from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Barclays increased their price objective on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group lifted their target price on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $77.27.

Insider Activity

In other PTC Therapeutics news, CEO Matthew B. Klein sold 2,514 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $76.45, for a total transaction of $192,195.30. Following the sale, the chief executive officer directly owned 394,453 shares in the company, valued at $30,155,931.85. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Pauwels sold 1,024 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $78.70, for a total transaction of $80,588.80. Following the completion of the sale, the insider directly owned 80,141 shares in the company, valued at $6,307,096.70. This represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 306,682 shares of company stock worth $24,139,117 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Performance

PTCT stock opened at $72.48 on Tuesday. The firm has a market cap of $5.82 billion, a P/E ratio of 8.47 and a beta of 0.49. The stock has a 50-day simple moving average of $77.15 and a 200-day simple moving average of $64.01. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The business had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. During the same period in the prior year, the firm earned ($1.39) earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.