Ieq Capital LLC Buys 38,804 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Ieq Capital LLC increased its position in PTC Therapeutics by 762.2% during the first quarter, owning 43,895 shares worth approximately $2.24 million at quarter's end.
• Several hedge funds have modified their holdings in PTC Therapeutics, including Wealth Enhancement Advisory Services LLC and Deutsche Bank AG, which increased their stakes by 41.4% and 262.1%, respectively.
• PTC Therapeutics reported earnings of ($0.83) EPS, exceeding analysts' expectations, with quarterly revenue of $178.88 million, a 4.2% decline year-over-year.

Ieq Capital LLC grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 762.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,895 shares of the biopharmaceutical company's stock after buying an additional 38,804 shares during the period. Ieq Capital LLC owned 0.06% of PTC Therapeutics worth $2,237,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC lifted its position in shares of PTC Therapeutics by 67.0% during the 1st quarter. AlphaQuest LLC now owns 1,807 shares of the biopharmaceutical company's stock valued at $92,000 after buying an additional 725 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of PTC Therapeutics during the 1st quarter valued at $8,872,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of PTC Therapeutics during the 1st quarter valued at $61,000. Hsbc Holdings PLC lifted its position in shares of PTC Therapeutics by 7.5% during the 1st quarter. Hsbc Holdings PLC now owns 17,711 shares of the biopharmaceutical company's stock valued at $848,000 after buying an additional 1,243 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake 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 during the period.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $555,635.86. Following the transaction, the chief executive officer directly owned 337,767 shares in the company, valued at $17,476,064.58. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares in the company, valued at $3,557,163.20. The trade was a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,589 shares of company stock worth $847,277 over the last ninety days. Insiders own 5.50% of the company's stock.

PTC Therapeutics Price Performance

NASDAQ PTCT traded down $0.75 during trading on Friday, reaching $57.26. The company's stock had a trading volume of 1,517,110 shares, compared to its average volume of 1,347,377. The stock has a market capitalization of $4.55 billion, a PE ratio of 8.22 and a beta of 0.53. The firm has a fifty day moving average of $49.24 and a 200 day moving average of $49.18. PTC Therapeutics, Inc. has a one year low of $30.59 and a one year high of $58.73.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping analysts' consensus estimates of ($1.07) by $0.24. The business had revenue of $178.88 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PTCT shares. Truist Financial boosted their price objective on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Barclays increased their price target on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Robert W. Baird set a $70.00 price target on shares of PTC Therapeutics in a report on Friday, August 8th. UBS Group increased their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Bank of America lowered their price target on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Nine 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

About PTC Therapeutics

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.