Ieq Capital LLC Acquires Shares of 19,611 PTC Therapeutics, Inc. $PTCT

Ieq Capital LLC bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,611 shares of the biopharmaceutical company’s stock, valued at approximately $1,600,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at about $67,000. Virtus Advisers LLC purchased a new position in shares of PTC Therapeutics during the second quarter worth approximately $420,000. Vise Technologies Inc. purchased a new position in shares of PTC Therapeutics during the second quarter worth approximately $698,000. E Fund Management Co. Ltd. acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $458,000. Finally, BlackRock Inc. acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $1,139,089,000.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $73.47 on Wednesday. The stock has a market capitalization of $6.13 billion, a P/E ratio of -126.67, a P/E/G ratio of 2.19 and a beta of 0.56. The company’s fifty day moving average is $77.51 and its two-hundred day moving average is $72.31. PTC Therapeutics, Inc. has a 1 year low of $48.28 and a 1 year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The business’s revenue was up 101.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.83) EPS. Sell-side analysts predict that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 2,464 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.25, for a total value of $222,376.00. Following the sale, the insider owned 60,299 shares of the company’s stock, valued at approximately $5,441,984.75. The trade was a 3.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 2,813 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $72.57, for a total value of $204,139.41. Following the transaction, the vice president owned 105,272 shares in the company, valued at $7,639,589.04. The trade was a 2.60% 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. Insiders have sold 205,343 shares of company stock valued at $16,774,704 over the last 90 days. Insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on PTCT shares. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Barclays increased their target price on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Finally, Morgan Stanley upped their price objective on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.55.

About PTC Therapeutics

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.