AQR Capital Management LLC Grows Stake in PTC Therapeutics, Inc. $PTCT

Key Points

• AQR Capital Management LLC increased its stake in PTC Therapeutics, Inc. by 162.5%, acquiring an additional 255,674 shares during the first quarter, totaling approximately $21 million in ownership.
• PTC Therapeutics' stock price rose to $60.96, marking a 4.5% increase with a market capitalization of $4.84 billion.
• Most recent earnings revealed a loss of ($0.83) earnings per share, surpassing analyst estimates, with the company generating $178.88 million in revenue for the quarter.

AQR Capital Management LLC lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 162.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 413,023 shares of the biopharmaceutical company's stock after acquiring an additional 255,674 shares during the period. AQR Capital Management LLC owned 0.52% of PTC Therapeutics worth $21,048,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP raised its position in shares of PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 551 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of PTC Therapeutics by 84.2% in 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 in the last quarter. GAMMA Investing LLC raised its position in shares of PTC Therapeutics by 86.3% in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PTC Therapeutics in the 1st quarter worth approximately $61,000. Finally, GF Fund Management CO. LTD. bought a new position in PTC Therapeutics during the 4th quarter valued at approximately $73,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Cowen reaffirmed a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 price objective (up previously from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. 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 report on Friday, August 8th. Finally, Bank of America reduced their price objective on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Nine equities 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, PTC Therapeutics has an average rating of "Moderate Buy" and an average price target of $69.00.

Insider Buying and Selling at PTC Therapeutics

In other news, insider Eric Pauwels sold 39,850 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 72,912 shares in the company, valued at $4,150,151.04. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Allan Steven Jacobson sold 1,667 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $50.15, for a total value of $83,600.05. Following the completion of the transaction, the director owned 17,451 shares in the company, valued at approximately $875,167.65. This trade represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,439 shares of company stock worth $3,815,619. Insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Up 0.2%

PTCT traded up $0.13 during trading on Friday, hitting $61.09. 1,759,211 shares of the company's stock traded hands, compared to its average volume of 1,275,826. The company's 50 day simple moving average is $50.27 and its two-hundred day simple moving average is $49.48. PTC Therapeutics, Inc. has a 12-month low of $33.19 and a 12-month high of $62.18. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 8.76 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The business had revenue of $178.88 million for the quarter, compared to the consensus estimate of $173.01 million. During the same period last year, the business posted ($1.29) EPS. The company's revenue was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

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.