Ishara Investments LP Purchases New Stake in PTC Therapeutics, Inc. $PTCT

Ishara Investments LP purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 36,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,735,000. PTC Therapeutics comprises about 3.2% of Ishara Investments LP’s investment portfolio, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in shares of PTC Therapeutics by 28.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock valued at $368,587,000 after purchasing an additional 1,077,776 shares during the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $442,000. Engineers Gate Manager LP increased its holdings in shares of PTC Therapeutics by 227.1% in the fourth quarter. Engineers Gate Manager LP now owns 36,709 shares of the biopharmaceutical company’s stock valued at $2,788,000 after purchasing an additional 25,486 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of PTC Therapeutics by 145.6% in the fourth quarter. Guggenheim Capital LLC now owns 41,238 shares of the biopharmaceutical company’s stock valued at $3,132,000 after purchasing an additional 24,450 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of PTC Therapeutics by 3.2% in the fourth quarter. AQR Capital Management LLC now owns 341,927 shares of the biopharmaceutical company’s stock valued at $25,973,000 after purchasing an additional 10,671 shares during the last quarter.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 3,540 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $78.97, for a total transaction of $279,553.80. Following the completion of the transaction, the vice president directly owned 105,212 shares in the company, valued at $8,308,591.64. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 52,003 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total value of $3,590,287.12. Following the transaction, the insider owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. This represents a 46.37% 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. Over the last 90 days, insiders sold 98,148 shares of company stock valued at $7,001,475. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

PTCT has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Wells Fargo & Company increased their price target on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Bank of America cut their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a report on Friday, February 20th. Raymond James Financial initiated coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an “outperform” rating and a $108.00 target price for the company. Finally, Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.36.

PTC Therapeutics Stock Up 7.2%

PTCT stock opened at $78.53 on Thursday. The business has a fifty day moving average of $71.03 and a two-hundred day moving average of $71.93. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of -33.70, a price-to-earnings-growth ratio of 3.37 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.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the firm earned $10.04 earnings per share. As a group, sell-side analysts anticipate that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

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.