Schonfeld Strategic Advisors LLC Has $5.52 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Schonfeld Strategic Advisors LLC trimmed its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 35.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,280 shares of the biopharmaceutical company's stock after selling 66,953 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.16% of PTC Therapeutics worth $5,520,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PTCT. Northern Trust Corp raised its stake in shares of PTC Therapeutics by 7.8% in the fourth quarter. Northern Trust Corp now owns 727,976 shares of the biopharmaceutical company's stock worth $32,861,000 after buying an additional 52,714 shares during the period. Tudor Investment Corp ET AL boosted its holdings in PTC Therapeutics by 22.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 47,151 shares of the biopharmaceutical company's stock valued at $2,128,000 after acquiring an additional 8,505 shares during the period. Aquatic Capital Management LLC raised its position in PTC Therapeutics by 578.3% during the 4th quarter. Aquatic Capital Management LLC now owns 69,869 shares of the biopharmaceutical company's stock valued at $3,154,000 after purchasing an additional 59,569 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of PTC Therapeutics during the 4th quarter worth $1,430,000. Finally, Nebula Research & Development LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at about $428,000.

PTC Therapeutics Trading Up 3.4 %

Shares of PTC Therapeutics stock traded up $1.37 during mid-day trading on Thursday, hitting $42.13. 565,740 shares of the stock were exchanged, compared to its average volume of 841,431. The company has a 50-day simple moving average of $49.22 and a 200 day simple moving average of $46.93. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -7.12 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 for the quarter, beating the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. During the same quarter in the prior year, the business earned ($1.20) earnings per share. The firm's revenue was down 9.6% on a year-over-year basis. Equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PTCT has been the topic of several analyst reports. Scotiabank began coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock. Bank of America upgraded PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. 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 research report on Friday, March 7th. Robert W. Baird lowered their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, 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 report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight 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 company has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Insider Activity

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 1,333 shares of the 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 $66,783.30. Following the transaction, the vice president now owns 105,515 shares in the company, valued at $5,286,301.50. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Scott Golden sold 795 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $39,829.50. Following the transaction, the executive vice president now owns 77,856 shares of the company's stock, valued at approximately $3,900,585.60. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,305 shares of company stock worth $1,682,755. Corporate insiders own 5.50% of the company's stock.

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.