Apollon Wealth Management LLC Has $399,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Apollon Wealth Management LLC lowered its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 50.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,839 shares of the biopharmaceutical company’s stock after selling 8,839 shares during the quarter. Apollon Wealth Management LLC’s holdings in PTC Therapeutics were worth $399,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Point72 Asset Management L.P. raised its position in shares of PTC Therapeutics by 945.6% during the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after acquiring an additional 643,960 shares during the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of PTC Therapeutics during the third quarter worth $7,234,000. State Street Corp raised its position in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after acquiring an additional 149,700 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of PTC Therapeutics by 32.1% during the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock worth $18,270,000 after acquiring an additional 119,637 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after acquiring an additional 47,902 shares during the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, EVP Lee Scott Golden sold 810 shares of PTC Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $36,725.40. Following the completion of the transaction, the executive vice president now owns 79,849 shares in the company, valued at approximately $3,620,353.66. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 85,600 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00. Following the completion of the transaction, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,737 shares of company stock valued at $10,920,687 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird upped their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $67.00 in a report on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, StockNews.com upgraded PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $58.85.

PTC Therapeutics Stock Up 1.5 %

NASDAQ PTCT opened at $49.67 on Friday. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $54.16. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -8.36 and a beta of 0.62. The business’s fifty day moving average is $46.34 and its 200 day moving average is $40.67.

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.