MPM Bioimpact LLC Purchases 345,052 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

MPM Bioimpact LLC boosted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 384.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 434,767 shares of the biopharmaceutical company's stock after purchasing an additional 345,052 shares during the period. PTC Therapeutics comprises 2.8% of MPM Bioimpact LLC's holdings, making the stock its 12th largest position. MPM Bioimpact LLC owned approximately 0.56% of PTC Therapeutics worth $19,625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Driehaus Capital Management LLC bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at $46,993,000. Janus Henderson Group PLC raised its stake in shares of PTC Therapeutics by 24.4% during 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 purchasing an additional 455,698 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of PTC Therapeutics by 107.4% during the 4th 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 during the period. Nuveen Asset Management LLC raised its stake in shares of 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 valued at $48,652,000 after purchasing an additional 273,638 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of PTC Therapeutics by 62.9% during the 4th quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock valued at $16,325,000 after purchasing an additional 139,596 shares during the period.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Eric Pauwels sold 1,378 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $69,037.80. Following the completion of the transaction, the chief executive officer now owns 85,427 shares of the company's stock, valued at $4,279,892.70. This represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Christine Marie Utter sold 879 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the transaction, the chief accounting officer now directly owns 63,442 shares of the company's stock, valued at $3,178,444.20. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,305 shares of company stock worth $1,682,755 in the last ninety days. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of analyst reports. Cantor Fitzgerald decreased their price objective on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their target price on PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $68.00 in a research report on Friday, May 9th. Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $50.00 to $40.00 in a research report on Wednesday, May 7th. Finally, StockNews.com cut PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.92.

PTC Therapeutics Stock Performance

PTCT stock traded up $0.70 during trading on Friday, hitting $46.01. 1,556,085 shares of the company traded hands, compared to its average volume of 869,912. The firm has a market capitalization of $3.65 billion, a PE ratio of -7.75 and a beta of 0.52. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The company has a 50-day moving average of $48.22 and a 200-day moving average of $47.19.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $437.16 million. The company's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.20) earnings per share. Sell-side analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

PTC Therapeutics Company 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.