Alpha DNA Investment Management LLC Invests $463,000 in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Alpha DNA Investment Management LLC bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,258 shares of the biopharmaceutical company's stock, valued at approximately $463,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in PTC Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after acquiring an additional 53,688 shares during the last quarter. Geode Capital Management LLC increased its stake in PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock valued at $66,743,000 after buying an additional 10,886 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock worth $33,241,000 after buying an additional 381,319 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of PTC Therapeutics by 21.3% in the 4th quarter. Renaissance Technologies LLC now owns 653,100 shares of the biopharmaceutical company's stock worth $29,481,000 after buying an additional 114,900 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of PTC Therapeutics by 62.9% in the fourth quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock valued at $16,325,000 after acquiring an additional 139,596 shares in the last quarter.

Insider Buying and Selling at PTC Therapeutics

In related news, Director Stephanie Okey sold 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the transaction, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,501 shares of company stock worth $1,546,088 over the last three months. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Down 1.0 %

Shares of PTCT traded down $0.50 during mid-day trading on Thursday, reaching $49.46. The company's stock had a trading volume of 142,648 shares, compared to its average volume of 808,834. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $58.38. The stock has a market cap of $3.90 billion, a PE ratio of -8.32 and a beta of 0.58. The company's fifty day moving average price is $50.11 and its two-hundred day moving average price is $46.36.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PTCT shares. Bank of America raised PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. JPMorgan Chase & Co. cut their price target on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Citigroup lifted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research report on Wednesday, February 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $65.00 target price on shares of PTC Therapeutics in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.92.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.