R Squared Ltd Purchases Shares of 1,750 PTC Therapeutics, Inc. (NASDAQ:PTCT)

R Squared Ltd purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,750 shares of the biopharmaceutical company’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in shares of PTC Therapeutics by 8.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 455 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 492 shares during the period. KBC Group NV increased its position in shares of PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares during the period. Creative Planning increased its position in shares of PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 816 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PTC Therapeutics by 6.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 884 shares during the period.

Insider Activity

In other PTC Therapeutics news, CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value 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. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Neil Gregory Almstead sold 69,550 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now owns 86,202 shares of the company’s stock, valued at $4,487,676.12. This represents a 44.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $45.88 on Friday. The company has a market capitalization of $3.54 billion, a P/E ratio of -7.72 and a beta of 0.62. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The firm’s 50 day simple moving average is $45.93 and its two-hundred day simple moving average is $39.73.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.15. The business had revenue of $196.79 million during the quarter, compared to the consensus estimate of $173.51 million. During the same quarter in the prior year, the firm posted ($1.76) EPS. On average, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PTCT shares. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Raymond James assumed coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating on the stock. The Goldman Sachs Group raised their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Finally, UBS Group raised their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.00.

PTC Therapeutics 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.