AQR Capital Management LLC Decreases Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

AQR Capital Management LLC reduced its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,349 shares of the biopharmaceutical company's stock after selling 32,230 shares during the quarter. AQR Capital Management LLC owned about 0.20% of PTC Therapeutics worth $7,103,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Vontobel Holding Ltd. acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth $521,000. Raymond James Financial Inc. acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $2,200,000. Natixis Advisors LLC acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $544,000. Proficio Capital Partners LLC acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $758,000. Finally, American Century Companies Inc. increased its position in PTC Therapeutics by 66.8% during the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock worth $2,715,000 after purchasing an additional 24,090 shares during the period.

PTC Therapeutics Stock Performance

PTCT stock traded up $0.17 on Tuesday, reaching $46.18. The company had a trading volume of 310,175 shares, compared to its average volume of 853,614. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The company's fifty day moving average is $48.74 and its 200 day moving average is $47.10. The company has a market cap of $3.66 billion, a P/E ratio of -7.77 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $437.16 million. During the same period in the previous year, the company posted ($1.20) EPS. PTC Therapeutics's quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insider Activity at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 879 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the sale, the chief accounting officer now owns 63,442 shares in the company, valued at approximately $3,178,444.20. The trade was a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Scott Golden sold 897 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the sale, the executive vice president now owns 75,997 shares of the company's stock, valued at $3,568,059.15. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,305 shares of company stock valued at $1,682,755. 5.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PTCT has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Citigroup raised PTC Therapeutics from a "sell" rating to a "neutral" rating and reduced their target price for the company from $50.00 to $40.00 in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Barclays reduced their target price on PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, StockNews.com raised PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $61.92.

PTC Therapeutics 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.