Tower Research Capital LLC TRC Boosts Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Tower Research Capital LLC TRC raised its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 3,636.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,553 shares of the biopharmaceutical company's stock after buying an additional 16,110 shares during the quarter. Tower Research Capital LLC TRC's holdings in PTC Therapeutics were worth $747,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 270 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at $68,000. R Squared Ltd acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth $79,000. Finally, KBC Group NV grew its stake in PTC Therapeutics by 36.4% during the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after buying an additional 813 shares during the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, EVP Lee Scott Golden sold 897 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total transaction of $42,114.15. Following the transaction, the executive vice president now owns 75,997 shares in the company, valued at approximately $3,568,059.15. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. The trade was a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,305 shares of company stock worth $1,682,755. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PTCT. Citigroup raised their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Royal Bank of Canada reissued an "outperform" rating and set a $65.00 target price on shares of PTC Therapeutics in a research report on Tuesday, April 22nd. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald boosted their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $63.92.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $49.53 on Friday. The firm's 50 day simple moving average is $50.07 and its 200-day simple moving average is $46.57. PTC Therapeutics, Inc. has a 12 month low of $28.72 and a 12 month high of $58.38. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.34 and a beta of 0.58.

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.

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