Is PTC Therapeutics, Inc. (PTCT) a Good Stock to Buy?

As aggregate interest increased, key hedge funds were breaking ground themselves. Balyasny Asset Management, led by Dmitry Balyasny, created the largest position in PTC Therapeutics, Inc. (NASDAQ:PTCT). Balyasny Asset Management had $4.6 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also initiated a $2.3 million position during the quarter. The following funds were also among the new PTCT investors: Louis Bacon’s Moore Global Investments and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as PTC Therapeutics, Inc. (NASDAQ:PTCT) but similarly valued. We will take a look at Agilysys, Inc. (NASDAQ:AGYS), Capital City Bank Group, Inc. (NASDAQ:CCBG), Contango Oil & Gas Company (NYSEAMEX:MCF), and Titan Machinery Inc. (NASDAQ:TITN). This group of stocks’ market valuations resemble PTCT’s market valuation.

As you can see these stocks had an average of seven funds with bullish positions and the average amount invested in these stocks was $46 million, compared to $82 million in PTCT’s case. Contango Oil & Gas Company (NYSEAMEX:MCF) is the most popular stock in this table. On the other hand Capital City Bank Group, Inc. (NASDAQ:CCBG) is the least popular one with only three funds having reported long positions. Compared to these stocks PTC Therapeutics, Inc. (NASDAQ:PTCT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none