Bayforest Capital Ltd Makes New Investment in PTC Therapeutics, Inc. $PTCT

Key Points

• Bayforest Capital Ltd has acquired a new stake in PTC Therapeutics, purchasing 8,153 shares valued at approximately $415,000 during the first quarter.
• Several hedge funds have increased their holdings in PTC Therapeutics, with notable boosts from UBS AM (+11.5%), AQR Capital Management (+162.5%), and Parkman Healthcare Partners (+58.0%).
• Analysts have raised price targets for PTC Therapeutics, with UBS Group setting a target of $80.00 and Cantor Fitzgerald at $118.00, reflecting a consensus rating of "Moderate Buy" for the stock.

Bayforest Capital Ltd acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,153 shares of the biopharmaceutical company's stock, valued at approximately $415,000.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 551 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of PTC Therapeutics by 84.2% during the 1st 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 441 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PTC Therapeutics during the 1st quarter valued at about $61,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $73,000.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded down $1.47 on Monday, hitting $59.62. 452,431 shares of the stock were exchanged, compared to its average volume of 1,099,754. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 8.54 and a beta of 0.53. PTC Therapeutics, Inc. has a 52 week low of $33.58 and a 52 week high of $62.18. The company's 50-day moving average price is $50.27 and its 200 day moving average price is $49.47.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping 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 company had revenue of $178.88 million during the quarter, compared to analyst estimates of $173.01 million. During the same period in the previous year, the company earned ($1.29) EPS. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on PTCT shares. Wells Fargo & Company decreased their target price on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Truist Financial raised their price objective on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. UBS Group raised their price objective on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Cowen reissued a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Finally, Morgan Stanley dropped their price target on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Nine investment 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $69.00.

Insider Activity

In other PTC Therapeutics news, 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 transaction of $83,600.05. Following the completion of the sale, the director owned 17,451 shares of the company's stock, valued at $875,167.65. This trade represents a 8.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Pauwels sold 39,850 shares of the 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 owned 72,912 shares in the company, valued at $4,150,151.04. The trade was a 35.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,439 shares of company stock worth $3,815,619. 5.50% of the stock is currently owned by insiders.

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.