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

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

Several other institutional investors also recently bought and sold shares of PTCT. AlphaQuest LLC raised its holdings in shares of PTC Therapeutics by 337.7% in the 2nd quarter. AlphaQuest LLC now owns 7,909 shares of the biopharmaceutical company’s stock valued at $386,000 after purchasing an additional 6,102 shares in the last quarter. Vise Technologies Inc. purchased a new position in PTC Therapeutics during the second quarter valued at approximately $486,000. Prudential Financial Inc. raised its stake in PTC Therapeutics by 35.5% in the second quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company’s stock worth $4,115,000 after buying an additional 22,060 shares in the last quarter. Hussman Strategic Advisors Inc. raised its stake in PTC Therapeutics by 200.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock worth $3,077,000 after buying an additional 42,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in PTC Therapeutics by 458.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 27,832 shares of the biopharmaceutical company’s stock worth $1,359,000 after buying an additional 22,851 shares during the period.

PTC Therapeutics Stock Performance

PTC Therapeutics 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. The stock has a 50-day moving average of $77.15 and a two-hundred day moving average of $63.74. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $1.39. The firm had revenue of $211.01 million for 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 company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.39) earnings per share. As a group, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PTCT. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, November 5th. Barclays raised their price objective on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Finally, The Goldman Sachs Group raised 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. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.27.

Insider Buying and Selling at PTC Therapeutics

In other news, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $76.35, for a total transaction of $916,200.00. Following the sale, the director directly owned 18,500 shares of the company’s stock, valued at $1,412,475. The trade was a 39.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Pauwels sold 40,290 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $75.43, for a total value of $3,039,074.70. Following the completion of the transaction, the insider directly owned 70,373 shares in the company, valued at approximately $5,308,235.39. The trade was a 36.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 306,682 shares of company stock worth $24,139,117 in the last three months. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Profile

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.