PTC Therapeutics, Inc. $PTCT Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in PTC Therapeutics by 130.3%, acquiring a total of 18,779 shares worth approximately $917,000.
• Insiders at PTC Therapeutics have sold a combined total of 249,735 shares in the last ninety days, reflecting a significant decrease in their ownership of the stock, with only 5.50% currently held by insiders.
• PTC Therapeutics reported earnings of ($0.83) EPS, exceeding analysts' expectations, with quarterly revenue of $178.88 million, but experienced a 4.2% year-over-year decline in revenue.

Bayforest Capital Ltd boosted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 130.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,779 shares of the biopharmaceutical company's stock after purchasing an additional 10,626 shares during the quarter. Bayforest Capital Ltd's holdings in PTC Therapeutics were worth $917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PTCT. Nuveen LLC acquired a new position in PTC Therapeutics in the first quarter valued at approximately $51,427,000. Wellington Management Group LLP boosted its holdings in PTC Therapeutics by 13.2% in the first quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company's stock valued at $276,161,000 after purchasing an additional 632,049 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in PTC Therapeutics by 45.3% in the first quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company's stock valued at $77,084,000 after purchasing an additional 471,586 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in PTC Therapeutics by 86.9% in the second quarter. Assenagon Asset Management S.A. now owns 631,622 shares of the biopharmaceutical company's stock valued at $30,848,000 after purchasing an additional 293,662 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in PTC Therapeutics by 94.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 595,000 shares of the biopharmaceutical company's stock valued at $30,321,000 after purchasing an additional 288,244 shares in the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 3,375 shares of the business's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $63.43, for a total transaction of $214,076.25. Following the sale, the vice president directly owned 103,901 shares in the company, valued at approximately $6,590,440.43. The trade was a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emma Reeve sold 25,562 shares of the business's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $65.96, for a total transaction of $1,686,069.52. Following the sale, the director owned 10,332 shares in the company, valued at $681,498.72. The trade was a 71.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,735 shares of company stock worth $15,467,670. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $66.06 on Tuesday. The firm has a market capitalization of $5.25 billion, a P/E ratio of 9.48 and a beta of 0.55. PTC Therapeutics, Inc. has a one year low of $35.51 and a one year high of $67.40. The company's fifty day moving average is $56.01 and its two-hundred day moving average is $50.59.

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, topping the consensus estimate of ($1.07) by $0.24. The company had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business's revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price objective on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Barclays increased their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Citigroup increased their price objective on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Bank of America decreased 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, Truist Financial increased their price objective on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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