Moore Capital Management LP Acquires 30,894 Shares of PTC Therapeutics, Inc. $PTCT

Moore Capital Management LP lifted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 69.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,588 shares of the biopharmaceutical company’s stock after buying an additional 30,894 shares during the period. Moore Capital Management LP owned about 0.09% of PTC Therapeutics worth $6,166,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of PTCT. UMB Bank n.a. bought a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $26,000. Comerica Bank increased its holdings in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 469 shares during the period. IFP Advisors Inc lifted 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 during the period. Allworth Financial LP boosted its holdings in PTC Therapeutics by 63.8% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 814 shares in the last quarter.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $70.09 on Monday. The company has a market capitalization of $5.85 billion, a PE ratio of -120.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.56. The firm has a 50 day moving average price of $77.08 and a 200 day moving average price of $72.26. PTC Therapeutics, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to analyst estimates 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 for the quarter was up 101.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.83) earnings per share. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In other news, Director Michael Schmertzler sold 12,500 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total transaction of $916,500.00. Following the completion of the transaction, the director directly owned 1,374,094 shares of the company’s stock, valued at approximately $100,748,572.08. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 24,613 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total transaction of $2,187,849.57. Following the sale, the insider owned 60,299 shares in the company, valued at $5,359,978.11. The trade was a 28.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 217,843 shares of company stock worth $17,686,454 over the last three months. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PTCT. Morgan Stanley lifted their target price on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings downgraded PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Wall Street Zen cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Wells Fargo & Company lifted their price objective on shares of PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $108.00 in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.