Geode Capital Management LLC Acquires 10,886 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Geode Capital Management LLC lifted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,798,666 shares of the biopharmaceutical company's stock after buying an additional 10,886 shares during the period. Geode Capital Management LLC owned about 2.33% of PTC Therapeutics worth $66,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PTCT. Armistice Capital LLC lifted its stake in PTC Therapeutics by 2.9% in the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company's stock worth $212,905,000 after acquiring an additional 198,227 shares in the last quarter. Cowen AND Company LLC boosted its holdings in shares of PTC Therapeutics by 0.8% during the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company's stock worth $114,873,000 after purchasing an additional 30,843 shares during the period. State Street Corp boosted its holdings 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 purchasing an additional 149,700 shares during the period. Renaissance Technologies LLC grew its position in PTC Therapeutics by 7.4% during the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company's stock valued at $25,017,000 after purchasing an additional 56,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 valued at $26,220,000 after buying an additional 47,902 shares during the period.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Marie Utter sold 17,800 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the sale, the chief accounting officer now directly owns 52,428 shares in the company, valued at $2,714,197.56. This trade represents a 25.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 85,600 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the transaction, the vice president now directly owns 92,389 shares of the company's stock, valued at $4,828,249.14. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,950 shares of company stock valued at $10,251,735. Insiders own 5.50% of the company's stock.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded up $0.99 during midday trading on Friday, reaching $46.24. The stock had a trading volume of 1,431,601 shares, compared to its average volume of 849,432. The stock has a market capitalization of $3.57 billion, a P/E ratio of -7.78 and a beta of 0.63. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The firm's fifty day simple moving average is $43.50 and its 200-day simple moving average is $37.51.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PTCT shares. Raymond James started coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They set a "market perform" rating on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. UBS Group boosted their price target on PTC Therapeutics from $47.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada raised shares of PTC Therapeutics from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $39.00 to $63.00 in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.08.

PTC Therapeutics Company 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.