Two Sigma Investments LP Decreases Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Two Sigma Investments LP reduced its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 45.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,352 shares of the biopharmaceutical company's stock after selling 143,945 shares during the period. Two Sigma Investments LP owned approximately 0.22% of PTC Therapeutics worth $7,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of PTC Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after acquiring an additional 53,688 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at $148,363,000. Janus Henderson Group PLC increased its position in shares of PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after acquiring an additional 455,698 shares during the period. Point72 Asset Management L.P. raised its stake in PTC Therapeutics by 150.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock worth $65,153,000 after acquiring an additional 867,502 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in PTC Therapeutics by 34.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company's stock worth $48,652,000 after acquiring an additional 273,638 shares during the period.

PTC Therapeutics Stock Performance

Shares of PTCT traded down $0.58 during trading hours on Wednesday, hitting $47.28. The stock had a trading volume of 717,143 shares, compared to its average volume of 860,801. The firm has a 50-day moving average price of $46.80 and a 200 day moving average price of $47.43. PTC Therapeutics, Inc. has a fifty-two week low of $28.72 and a fifty-two week high of $58.38. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -7.96 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $437.16 million. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business earned ($1.20) EPS. As a group, analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In related news, Director Allan Steven Jacobson sold 1,230 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the transaction, the director now directly owns 19,118 shares of the company's stock, valued at approximately $984,959.36. This trade represents a 6.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the transaction, the vice president now directly owns 103,901 shares in the company, valued at $5,537,923.30. This trade represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,264 shares of company stock valued at $1,469,137. 5.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PTCT. Robert W. Baird dropped their price target on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $55.00 to $68.00 in a research note on Friday, May 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Citigroup raised shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $50.00 to $40.00 in a report on Wednesday, May 7th. Finally, Cantor Fitzgerald dropped their price objective on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, PTC Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $63.75.

PTC Therapeutics Profile

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.