Walleye Capital LLC Takes $1.59 Million Position in PTC Therapeutics, Inc. $PTCT

Walleye Capital LLC purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,522 shares of the biopharmaceutical company’s stock, valued at approximately $1,592,000.

A number of other institutional investors have also made changes to their positions in PTCT. EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 151 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in PTC Therapeutics by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 244 shares during the last quarter. Allworth Financial LP boosted its holdings in PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the last quarter. Measured Wealth Private Client Group LLC boosted its holdings in PTC Therapeutics by 5.6% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after buying an additional 265 shares during the last quarter. Finally, Evolve Private Wealth LLC grew its position in shares of PTC Therapeutics by 5.2% during the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after buying an additional 305 shares during the period.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of recent analyst reports. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Cantor Fitzgerald lifted their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Royal Bank Of Canada boosted their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.55.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $71.70 on Friday. PTC Therapeutics, Inc. has a 1 year low of $47.94 and a 1 year high of $90.87. The business has a 50-day moving average of $77.79 and a two-hundred day moving average of $72.49. The company has a market capitalization of $5.98 billion, a P/E ratio of -123.62, a price-to-earnings-growth ratio of 2.22 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. During the same quarter last year, the firm posted ($0.83) earnings per share. PTC Therapeutics’s revenue was up 101.5% compared to the same quarter last year. On average, equities analysts anticipate that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 2,464 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the transaction, the insider owned 60,299 shares of the company’s stock, valued at approximately $5,441,984.75. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 10,292 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $68.57, for a total transaction of $705,722.44. Following the completion of the transaction, the chief executive officer directly owned 383,868 shares in the company, valued at approximately $26,321,828.76. The trade was a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 190,030 shares of company stock valued at $15,654,065 in the last quarter. 5.30% of the stock is owned by company insiders.

About PTC Therapeutics

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.