PTC Therapeutics, Inc. $PTCT Shares Bought by Rock Springs Capital Management LP

Rock Springs Capital Management LP grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 161.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,798 shares of the biopharmaceutical company’s stock after buying an additional 99,919 shares during the quarter. Rock Springs Capital Management LP’s holdings in PTC Therapeutics were worth $11,023,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at approximately $26,000. Comerica Bank grew its stake in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 469 shares during the period. Salomon & Ludwin LLC purchased a new stake in PTC Therapeutics in the 4th quarter worth $41,000. IFP Advisors Inc increased its holdings in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 310 shares in the last quarter. Finally, Allworth Financial LP raised its position in PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 247 shares during the period.

PTC Therapeutics Stock Down 1.3%

Shares of PTCT opened at $75.80 on Tuesday. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $90.87. The stock has a market cap of $6.29 billion, a PE ratio of -32.53, a price-to-earnings-growth ratio of 6.69 and a beta of 0.53. The firm’s fifty day moving average is $77.30 and its two-hundred day moving average is $72.82.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the business earned $10.04 earnings per share. As a group, research analysts anticipate that PTC Therapeutics, Inc. will post 0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PTCT. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Weiss Ratings downgraded shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Wells Fargo & Company lowered their price objective on PTC Therapeutics from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. Finally, Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.29.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 2,464 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the transaction, the insider directly owned 60,299 shares of the company’s stock, valued at $5,441,984.75. This trade represents a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the completion of the transaction, the director directly owned 21,813 shares in the company, valued at $1,963,170. This trade represents a 42.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 198,662 shares of company stock valued at $16,347,994. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.