Assenagon Asset Management S.A. Has $19.85 Million Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Assenagon Asset Management S.A. lessened its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 439,670 shares of the biopharmaceutical company's stock after selling 52,794 shares during the period. Assenagon Asset Management S.A. owned about 0.57% of PTC Therapeutics worth $19,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PTCT. Armistice Capital LLC raised its position in shares of PTC Therapeutics by 2.9% in the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company's stock valued at $212,905,000 after purchasing an additional 198,227 shares in the last quarter. State Street Corp raised its holdings in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after acquiring an additional 149,700 shares in the last quarter. Geode Capital Management LLC boosted its stake in PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock valued at $66,743,000 after acquiring an additional 10,886 shares during the last quarter. Renaissance Technologies LLC grew its holdings in PTC Therapeutics by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company's stock worth $25,017,000 after acquiring an additional 56,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PTC Therapeutics by 7.3% in 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 last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on PTCT shares. Raymond James started coverage on PTC Therapeutics in a report on Thursday, October 10th. They issued a "market perform" rating for the company. Wells Fargo & Company boosted their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Citigroup raised their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. Cantor Fitzgerald dropped their target price on shares of PTC Therapeutics from $80.00 to $76.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Barclays lifted their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $55.00.

Insiders Place Their Bets

In related news, CAO Christine Marie Utter sold 1,291 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $58,533.94. Following the completion of the sale, the chief accounting officer now directly owns 65,983 shares of the company's stock, valued at approximately $2,991,669.22. This represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerome B. Zeldis sold 24,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the completion of the sale, the director now directly owns 14,500 shares of the company's stock, valued at $746,750. This trade represents a 62.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,737 shares of company stock worth $10,920,687. 5.50% of the stock is owned by insiders.

PTC Therapeutics Stock Up 1.8 %

PTCT traded up $0.76 during trading on Friday, reaching $43.84. The stock had a trading volume of 950,037 shares, compared to its average volume of 458,859. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -7.38 and a beta of 0.62. The stock has a 50 day moving average of $45.26 and a two-hundred day moving average of $38.78.

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.