Guggenheim Capital LLC Has $880,000 Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Guggenheim Capital LLC decreased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,486 shares of the biopharmaceutical company's stock after selling 5,661 shares during the period. Guggenheim Capital LLC's holdings in PTC Therapeutics were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of PTC Therapeutics by 0.6% during the fourth 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. Pictet Asset Management Holding SA grew its position in shares of PTC Therapeutics by 107.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock valued at $33,241,000 after purchasing an additional 381,319 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of PTC Therapeutics by 21.3% in the fourth quarter. Renaissance Technologies LLC now owns 653,100 shares of the biopharmaceutical company's stock worth $29,481,000 after purchasing an additional 114,900 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of PTC Therapeutics by 62.9% in the fourth quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock worth $16,325,000 after buying an additional 139,596 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in PTC Therapeutics by 43.8% during the fourth quarter. Trexquant Investment LP now owns 313,417 shares of the biopharmaceutical company's stock valued at $14,148,000 after buying an additional 95,418 shares during the last quarter.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $0.27 on Tuesday, reaching $49.49. 89,302 shares of the company were exchanged, compared to its average volume of 805,069. PTC Therapeutics, Inc. has a 1-year low of $28.72 and a 1-year high of $58.38. The company's 50-day moving average is $50.06 and its two-hundred day moving average is $46.70. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -8.31 and a beta of 0.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and issued a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Cantor Fitzgerald upped their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Scotiabank began coverage on PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price objective for the company. Bank of America raised shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Finally, Citigroup upped their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.92.

Insider Buying and Selling

In related news, Director Stephanie Okey sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. This trade represents a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew B. Klein sold 2,804 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total value of $136,666.96. Following the sale, the chief executive officer now directly owns 273,234 shares of the company's stock, valued at $13,317,425.16. This trade represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,305 shares of company stock valued at $1,682,755 over the last three months. Company insiders own 5.50% of the company's stock.

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.