Armistice Capital LLC Increases Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Armistice Capital LLC grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,864,000 shares of the biopharmaceutical company’s stock after purchasing an additional 714,000 shares during the quarter. PTC Therapeutics comprises about 2.6% of Armistice Capital LLC’s investment portfolio, making the stock its largest position. Armistice Capital LLC owned 9.10% of PTC Therapeutics worth $189,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its stake in PTC Therapeutics by 132.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 557 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 3,338 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of PTC Therapeutics by 349.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,727 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 6,786 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at $242,000. Finally, Neo Ivy Capital Management lifted its stake in shares of PTC Therapeutics by 2,437.6% during the third quarter. Neo Ivy Capital Management now owns 11,800 shares of the biopharmaceutical company’s stock valued at $264,000 after acquiring an additional 11,335 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. Raymond James raised PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Monday, May 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of PTC Therapeutics in a research note on Friday, April 12th. The Goldman Sachs Group increased their target price on PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. increased their target price on PTC Therapeutics from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.67.

Get Our Latest Analysis on PTC Therapeutics

PTC Therapeutics Stock Performance

NASDAQ PTCT traded up $0.34 during trading hours on Wednesday, hitting $38.25. 57,609 shares of the company traded hands, compared to its average volume of 954,717. The business’s 50-day moving average is $31.13 and its 200-day moving average is $28.55. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $45.68.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) 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 analyst estimates of $160.27 million. Analysts predict that PTC Therapeutics, Inc. will post -4.84 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jerome B. Zeldis sold 20,000 shares of the firm’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 value of $764,800.00. Following the completion of the sale, the director now directly owns 14,500 shares of the company’s stock, valued at $554,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Jerome B. Zeldis sold 20,000 shares of the firm’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 value of $764,800.00. Following the completion of the sale, the director now directly owns 14,500 shares of the company’s stock, valued at $554,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew B. Klein sold 3,361 shares of the firm’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 value of $83,655.29. Following the completion of the sale, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The disclosure for this sale can be found here. Insiders sold a total of 24,849 shares of company stock valued at $888,907 over the last three months. Insiders own 5.50% of the company’s stock.

About PTC Therapeutics

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding PTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report).

Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.