Aquatic Capital Management LLC Buys 59,569 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Aquatic Capital Management LLC raised its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 578.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,869 shares of the biopharmaceutical company's stock after purchasing an additional 59,569 shares during the period. Aquatic Capital Management LLC owned 0.09% of PTC Therapeutics worth $3,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PTCT. Susquehanna Fundamental Investments LLC bought a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $1,430,000. Nebula Research & Development LLC bought a new position in PTC Therapeutics in the 4th quarter worth $428,000. Adage Capital Partners GP L.L.C. lifted its position in shares of PTC Therapeutics by 22.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 306,756 shares of the biopharmaceutical company's stock worth $13,847,000 after purchasing an additional 56,756 shares during the period. Dark Forest Capital Management LP lifted its position in shares of PTC Therapeutics by 45.0% in the 4th quarter. Dark Forest Capital Management LP now owns 9,637 shares of the biopharmaceutical company's stock worth $435,000 after purchasing an additional 2,992 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $940,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTCT shares. StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Bank of America raised shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and set a $65.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, April 22nd. Finally, Citigroup upped their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.92.

PTC Therapeutics Trading Up 0.6 %

PTCT stock traded up $0.32 during trading on Wednesday, reaching $49.84. The stock had a trading volume of 1,206,672 shares, compared to its average volume of 802,212. The stock's 50 day moving average is $50.04 and its two-hundred day moving average is $46.72. The firm has a market cap of $3.93 billion, a PE ratio of -8.39 and a beta of 0.58. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38.

Insider Buying and Selling

In other news, Director Stephanie Okey sold 5,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares of the company's stock, valued at $478,818. This represents a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 1,333 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $66,783.30. Following the completion of the sale, the vice president now owns 105,515 shares of the company's stock, valued at $5,286,301.50. The trade was a 1.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,305 shares of company stock valued at $1,682,755. 5.50% of the stock is owned by insiders.

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.