Los Angeles Capital Management LLC Purchases 2,024 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Los Angeles Capital Management LLC lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 23.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,800 shares of the biopharmaceutical company’s stock after buying an additional 2,024 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PTC Therapeutics were worth $314,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vise Technologies Inc. lifted its stake in shares of PTC Therapeutics by 20.1% during the 4th quarter. Vise Technologies Inc. now owns 12,808 shares of the biopharmaceutical company’s stock worth $353,000 after buying an additional 2,140 shares during the last quarter. Trexquant Investment LP acquired a new stake in PTC Therapeutics in the 4th quarter worth about $6,412,000. Charles Schwab Investment Management Inc. raised its stake in PTC Therapeutics by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company’s stock worth $13,373,000 after purchasing an additional 23,288 shares in the last quarter. Wellington Management Group LLP raised its stake in PTC Therapeutics by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock worth $270,546,000 after purchasing an additional 380,415 shares in the last quarter. Finally, Walleye Capital LLC raised its stake in PTC Therapeutics by 958.6% in the 3rd quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock worth $1,614,000 after purchasing an additional 65,226 shares in the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total transaction of $764,800.00. Following the sale, the director now directly owns 14,500 shares of the company’s stock, valued at approximately $554,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $24.89, for a total transaction of $83,655.29. Following the sale, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerome B. Zeldis sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total transaction of $764,800.00. Following the sale, the director now directly owns 14,500 shares in the company, valued at $554,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,849 shares of company stock valued at $888,907. 5.50% of the stock is owned by insiders.

PTC Therapeutics Trading Down 0.4 %

Shares of PTC Therapeutics stock opened at $35.02 on Thursday. The firm has a market capitalization of $2.69 billion, a PE ratio of -4.56 and a beta of 0.70. The firm’s 50 day moving average is $33.93 and its 200 day moving average is $29.95. PTC Therapeutics, Inc. has a 1 year low of $17.53 and a 1 year high of $42.63.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.01. The company had revenue of $210.12 million for the quarter, compared to the consensus estimate of $160.27 million. As a group, research analysts anticipate that PTC Therapeutics, Inc. will post -4.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PTCT. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $18.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, May 28th. TD Cowen dropped their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Morgan Stanley upgraded shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $28.00 to $30.00 in a research note on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Finally, Bank of America raised their target price on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a report on Friday, June 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.27.

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.