AlphaQuest LLC Has $49,000 Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

AlphaQuest LLC lessened its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 95.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,082 shares of the biopharmaceutical company's stock after selling 21,277 shares during the period. AlphaQuest LLC's holdings in PTC Therapeutics were worth $49,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in shares of PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company's stock valued at $21,364,000 after purchasing an additional 643,960 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new stake in PTC Therapeutics in the third quarter valued at $7,234,000. State Street Corp lifted its stake in shares of PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after purchasing an additional 149,700 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of PTC Therapeutics during the 4th quarter worth $2,200,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after purchasing an additional 47,902 shares during the period.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $0.11 during midday trading on Monday, reaching $57.03. 1,003,509 shares of the company's stock traded hands, compared to its average volume of 735,797. The company has a market cap of $4.50 billion, a price-to-earnings ratio of -9.60 and a beta of 0.66. The company's 50 day simple moving average is $49.78 and its 200 day simple moving average is $44.40. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $58.46.

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Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 1,168 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $58,516.80. Following the sale, the chief financial officer now owns 75,603 shares of the company's stock, valued at approximately $3,787,710.30. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Okey sold 5,000 shares of PTC Therapeutics stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now owns 8,867 shares of the company's stock, valued at $478,818. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,391 shares of company stock valued at $2,172,927 over the last ninety days. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup upped their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a research report on Wednesday, February 12th. Morgan Stanley reissued 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. The Goldman Sachs Group raised their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a research report on Wednesday, December 4th. Barclays boosted their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, December 3rd. Finally, StockNews.com downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

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.