Seven Eight Capital LP Has $1.71 Million Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Seven Eight Capital LP grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 148.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,692 shares of the biopharmaceutical company’s stock after purchasing an additional 35,055 shares during the quarter. Seven Eight Capital LP owned about 0.08% of PTC Therapeutics worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in PTC Therapeutics by 132.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 557 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics in the 1st quarter valued at $46,000. Headlands Technologies LLC lifted its position in shares of PTC Therapeutics by 248.0% during the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 3,338 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in PTC Therapeutics by 349.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,727 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 6,786 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in PTC Therapeutics in the fourth quarter worth $242,000.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $0.52 during mid-day trading on Tuesday, hitting $33.55. 322,614 shares of the stock were exchanged, compared to its average volume of 949,161. PTC Therapeutics, Inc. has a 12 month low of $17.53 and a 12 month high of $42.14. The company has a 50-day simple moving average of $34.82 and a 200 day simple moving average of $30.54. The company has a market capitalization of $2.57 billion, a P/E ratio of -4.38 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to the consensus estimate of $160.27 million. Analysts predict that PTC Therapeutics, Inc. will post -4.87 EPS for the current year.

Insider Buying and Selling

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total value of $764,800.00. Following the transaction, the director now directly owns 14,500 shares in the company, valued at $554,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PTC Therapeutics news, Director Jerome B. Zeldis sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total value of $764,800.00. Following the sale, the director now directly owns 14,500 shares in the company, valued at $554,480. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,444 shares of company stock valued at $847,735. 5.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PTCT. Morgan Stanley increased their price objective on shares of PTC Therapeutics from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Citigroup raised their price objective on PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, May 21st. Jefferies Financial Group upped their target price on PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $62.00 price target on shares of PTC Therapeutics in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $53.00 price target on shares of PTC Therapeutics in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.64.

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.