Wolverine Asset Management LLC Buys 9,850 Shares of PTC Therapeutics, Inc. $PTCT

Wolverine Asset Management LLC increased its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 67.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,392 shares of the biopharmaceutical company’s stock after acquiring an additional 9,850 shares during the quarter. Wolverine Asset Management LLC’s holdings in PTC Therapeutics were worth $1,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTCT. State of Alaska Department of Revenue bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at about $264,000. SG Americas Securities LLC boosted its stake in PTC Therapeutics by 2,679.9% during the third quarter. SG Americas Securities LLC now owns 130,097 shares of the biopharmaceutical company’s stock valued at $7,984,000 after buying an additional 125,417 shares during the last quarter. KLP Kapitalforvaltning AS grew its holdings in PTC Therapeutics by 8.4% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 15,500 shares of the biopharmaceutical company’s stock valued at $951,000 after buying an additional 1,200 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in PTC Therapeutics by 16.7% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 36,950 shares of the biopharmaceutical company’s stock worth $2,268,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of PTC Therapeutics by 4.7% during the 3rd quarter. Diversified Trust Co now owns 16,577 shares of the biopharmaceutical company’s stock worth $1,017,000 after acquiring an additional 744 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PTCT shares. Wall Street Zen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Citigroup lifted their price objective on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Barclays boosted their target price on shares of PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. The Goldman Sachs Group increased their price target on shares of PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. Finally, Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.27.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Emma Reeve sold 15,666 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $69.50, for a total value of $1,088,787.00. Following the transaction, the director owned 6,666 shares of the company’s stock, valued at $463,287. This represents a 70.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Neil Gregory Almstead sold 71,928 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $83.44, for a total transaction of $6,001,672.32. Following the sale, the insider directly owned 100,625 shares of the company’s stock, valued at $8,396,150. This represents a 41.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 306,682 shares of company stock worth $24,139,117 over the last quarter. 5.50% of the stock is owned by insiders.

PTC Therapeutics Trading Down 4.2%

PTCT stock opened at $72.48 on Friday. The stock has a market cap of $5.82 billion, a PE ratio of 8.47 and a beta of 0.49. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The company has a 50-day moving average price of $77.15 and a 200 day moving average price of $63.74.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. The business had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.39) earnings per share. Sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

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.