Walleye Capital LLC Invests $4.97 Million in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Walleye Capital LLC bought a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 110,004 shares of the biopharmaceutical company's stock, valued at approximately $4,966,000. Walleye Capital LLC owned 0.14% of PTC Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after buying an additional 53,688 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock valued at $66,743,000 after purchasing an additional 10,886 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of PTC Therapeutics by 107.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock valued at $33,241,000 after purchasing an additional 381,319 shares during the period. Renaissance Technologies LLC raised its holdings 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 in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of PTC Therapeutics by 62.9% during the 4th quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock worth $16,325,000 after buying an additional 139,596 shares during the period.

Insider Activity

In other PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the transaction, the chief accounting officer now directly owns 63,442 shares of the company's stock, valued at $3,178,444.20. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Scott Golden sold 897 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total transaction of $42,114.15. Following the sale, the executive vice president now owns 75,997 shares of the company's stock, valued at approximately $3,568,059.15. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,501 shares of company stock valued at $1,546,088 in the last quarter. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PTCT. JPMorgan Chase & Co. dropped their price objective on PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Scotiabank assumed coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price target on the stock. Cantor Fitzgerald lifted their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $65.00 price objective on shares of PTC Therapeutics in a research note on Tuesday. Finally, StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $63.92.

PTC Therapeutics Trading Up 0.5 %

Shares of PTC Therapeutics stock traded up $0.25 on Tuesday, reaching $48.44. 155,141 shares of the company were exchanged, compared to its average volume of 808,037. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -8.18 and a beta of 0.58. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $58.38. The company has a 50-day moving average of $50.18 and a 200 day moving average of $46.32.

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.