Apollon Wealth Management LLC Has $399,000 Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Apollon Wealth Management LLC lessened its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,839 shares of the biopharmaceutical company's stock after selling 8,839 shares during the quarter. Apollon Wealth Management LLC's holdings in PTC Therapeutics were worth $399,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its position in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock worth $107,554,000 after acquiring an additional 149,700 shares in the last quarter. Geode Capital Management LLC grew its position in PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock worth $66,743,000 after acquiring an additional 10,886 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after acquiring an additional 47,902 shares in the last quarter. Point72 Asset Management L.P. grew its position in PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company's stock worth $21,364,000 after acquiring an additional 643,960 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in PTC Therapeutics by 32.1% in the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company's stock worth $18,270,000 after acquiring an additional 119,637 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have commented on PTCT shares. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday. UBS Group upped their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Citigroup upped their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Morgan Stanley raised shares of PTC Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $45.00 to $67.00 in a report on Friday, December 13th. Finally, Robert W. Baird upped their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $58.85.

PTC Therapeutics Trading Up 4.3 %

NASDAQ:PTCT traded up $2.15 during trading hours on Monday, hitting $51.82. 795,586 shares of the company traded hands, compared to its average volume of 727,904. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -8.72 and a beta of 0.62. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $54.16. The firm has a 50-day moving average of $46.52 and a 200 day moving average of $41.10.

Insider Activity

In other news, CAO Christine Marie Utter sold 17,800 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the completion of the transaction, the chief accounting officer now owns 52,428 shares in the company, valued at approximately $2,714,197.56. This represents a 25.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now owns 86,202 shares of the company's stock, valued at approximately $4,487,676.12. This represents a 44.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,737 shares of company stock worth $10,920,687. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Profile

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.