OP Asset Management Ltd Invests $2.29 Million in PTC Therapeutics, Inc. $PTCT

OP Asset Management Ltd acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 33,602 shares of the biopharmaceutical company’s stock, valued at approximately $2,289,000.

Several other large investors have also bought and sold shares of the business. Allworth Financial LP grew its position in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 247 shares during the last quarter. Optiver Holding B.V. lifted its holdings in shares of PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the last quarter. Measured Wealth Private Client Group LLC lifted its holdings in shares of PTC Therapeutics by 5.6% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after acquiring an additional 265 shares during the last quarter. Evolve Private Wealth LLC boosted its stake in shares of PTC Therapeutics by 5.2% in the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock valued at $417,000 after purchasing an additional 305 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Raymond James Financial started coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective for the company. Weiss Ratings lowered shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. Finally, Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.36.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $84.43 on Friday. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of -36.24, a PEG ratio of 3.88 and a beta of 0.56. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50. The firm has a 50 day moving average price of $72.57 and a two-hundred day moving average price of $72.12.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same period in the prior year, the firm posted $10.04 EPS. The company’s quarterly revenue was up 43.5% on a year-over-year basis. As a group, equities research analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other news, insider Eric Pauwels sold 21,277 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total value of $1,595,775.00. Following the transaction, the insider directly owned 73,411 shares of the company’s stock, valued at $5,505,825. The trade was a 22.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 12,572 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $72.95, for a total value of $917,127.40. Following the sale, the chief executive officer owned 393,998 shares in the company, valued at approximately $28,742,154.10. The trade was a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 178,328 shares of company stock valued at $13,487,625. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Company 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.