Thrivent Financial for Lutherans Invests $1.45 Million in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Thrivent Financial for Lutherans acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,098 shares of the biopharmaceutical company's stock, valued at approximately $1,450,000. Thrivent Financial for Lutherans owned about 0.05% of PTC Therapeutics at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. KBC Group NV lifted its position in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock worth $83,000 after buying an additional 504 shares in the last quarter. CWM LLC grew its stake in shares of PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock valued at $100,000 after purchasing an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock valued at $104,000 after purchasing an additional 492 shares in the last quarter. Quest Partners LLC bought a new position in PTC Therapeutics in the 2nd quarter worth approximately $128,000. Finally, Quarry LP lifted its holdings in PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock worth $153,000 after buying an additional 2,500 shares in the last quarter.

PTC Therapeutics Trading Down 2.7 %

Shares of NASDAQ PTCT traded down $1.23 during mid-day trading on Friday, reaching $43.88. 428,781 shares of the company's stock were exchanged, compared to its average volume of 730,010. PTC Therapeutics, Inc. has a twelve month low of $22.47 and a twelve month high of $47.24. The business has a fifty day simple moving average of $40.22 and a 200 day simple moving average of $36.30.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 19th. Morgan Stanley boosted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, October 11th. Baird R W upgraded shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $64.00 price target on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada raised their price objective on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $44.69.

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.