AQR Capital Management LLC Buys 255,674 Shares of PTC Therapeutics, Inc. $PTCT

AQR Capital Management LLC boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 162.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 413,023 shares of the biopharmaceutical company's stock after buying an additional 255,674 shares during the quarter. AQR Capital Management LLC owned approximately 0.52% of PTC Therapeutics worth $21,048,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PTCT. Quantbot Technologies LP boosted its holdings 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 valued at $33,000 after buying an additional 551 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 320 shares during the period. GAMMA Investing LLC increased its stake in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 441 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PTC Therapeutics in the first quarter worth $61,000. Finally, GF Fund Management CO. LTD. acquired a new position in PTC Therapeutics in the fourth quarter worth $73,000.

Insiders Place Their Bets

In other news, 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. This represents a 35.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Pierre Gravier sold 2,516 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the sale, the chief financial officer directly owned 71,920 shares of the company's stock, valued at approximately $3,557,163.20. This trade represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $3,115,539 in the last ninety days. Corporate insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PTCT shares. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Barclays upped their target price on PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Citigroup raised their target price on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Bank of America cut their price objective on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Finally, Wells Fargo & Company cut their price target on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.00.

PTC Therapeutics Stock Down 0.2%

PTC Therapeutics stock traded down $0.09 during trading hours on Wednesday, hitting $58.33. The stock had a trading volume of 917,296 shares, compared to its average volume of 1,304,915. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 8.37 and a beta of 0.53. The business's 50 day simple moving average is $49.78 and its 200-day simple moving average is $49.34. PTC Therapeutics, Inc. has a one year low of $30.98 and a one year high of $59.00.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates of ($1.07) by $0.24. The firm had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. Research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

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.