Rhumbline Advisers Purchases 1,630 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Rhumbline Advisers lifted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,401 shares of the biopharmaceutical company’s stock after acquiring an additional 1,630 shares during the period. Rhumbline Advisers owned approximately 0.15% of PTC Therapeutics worth $5,074,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PTCT. Vontobel Holding Ltd. bought a new stake in PTC Therapeutics in the 4th quarter valued at about $521,000. Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares in the last quarter. Two Sigma Advisers LP grew its position in PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after buying an additional 40,300 shares in the last quarter. Intech Investment Management LLC bought a new position in PTC Therapeutics during the 3rd quarter worth $698,000. Finally, Quest Partners LLC raised its holdings in PTC Therapeutics by 433.9% in the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 18,171 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays raised their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Robert W. Baird increased their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. 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 research report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, four have given 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, PTC Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $58.85.

PTC Therapeutics Stock Down 0.8 %

Shares of PTCT opened at $50.57 on Friday. The business has a 50-day simple moving average of $46.87 and a two-hundred day simple moving average of $41.95. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $54.16. The stock has a market cap of $3.90 billion, a PE ratio of -8.51 and a beta of 0.62.

Insider Activity

In other news, CAO Christine Marie Utter sold 17,800 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total value of $921,506.00. Following the completion of the sale, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at $2,714,197.56. This represents a 25.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Scott Golden sold 795 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $39,829.50. Following the transaction, the executive vice president now directly owns 77,856 shares in the company, valued at approximately $3,900,585.60. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,590 shares of company stock worth $11,264,023. Company insiders own 5.50% of the company’s stock.

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.