SPX Gestao de Recursos Ltda Makes New $1.13 Million Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

SPX Gestao de Recursos Ltda acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,000 shares of the biopharmaceutical company's stock, valued at approximately $1,128,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted 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 position in shares of PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock valued at $66,743,000 after buying an additional 10,886 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PTC Therapeutics by 7.3% in 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 period. Point72 Asset Management L.P. raised its stake in PTC Therapeutics by 945.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company's stock valued at $21,364,000 after buying an additional 643,960 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of PTC Therapeutics by 6.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company's stock worth $17,522,000 after purchasing an additional 26,773 shares during the period.

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PTC Therapeutics Stock Down 1.6 %

Shares of NASDAQ PTCT traded down $0.85 during midday trading on Thursday, hitting $52.76. The stock had a trading volume of 613,284 shares, compared to its average volume of 740,731. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -8.88 and a beta of 0.66. The company has a fifty day moving average price of $48.44 and a 200 day moving average price of $43.37. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $55.60.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PTCT. Citigroup lifted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a report on Wednesday, February 12th. Barclays lifted their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. Robert W. Baird boosted their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Scotiabank started coverage on PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price objective on the stock. Finally, Morgan Stanley restated an "overweight" rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $63.54.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,230 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the transaction, the director now owns 19,118 shares of the company's stock, valued at approximately $984,959.36. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total transaction of $373,879.64. Following the completion of the transaction, the chief executive officer now directly owns 217,528 shares in the company, valued at approximately $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,870 shares of company stock valued at $1,075,657. Insiders own 5.50% of the company's stock.

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.