Dimensional Fund Advisors LP Makes New $4.74 Million Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Dimensional Fund Advisors LP acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 105,050 shares of the biopharmaceutical company's stock, valued at approximately $4,742,000. Dimensional Fund Advisors LP owned about 0.14% of PTC Therapeutics at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $521,000. Raymond James Financial Inc. bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $2,200,000. Natixis Advisors LLC bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $544,000. Proficio Capital Partners LLC bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $758,000. Finally, American Century Companies Inc. boosted its holdings in PTC Therapeutics by 66.8% during the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock valued at $2,715,000 after acquiring an additional 24,090 shares during the period.

Insider Transactions at PTC Therapeutics

In other 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 value of $42,114.15. Following the completion of the transaction, the executive vice president now owns 75,997 shares of the company's stock, valued at approximately $3,568,059.15. This represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan Steven Jacobson sold 1,230 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 19,118 shares of the company's stock, valued at $984,959.36. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,305 shares of company stock valued at $1,682,755. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Up 1.5%

Shares of NASDAQ:PTCT traded up $0.70 during trading on Friday, hitting $46.01. The stock had a trading volume of 1,556,085 shares, compared to its average volume of 870,808. PTC Therapeutics, Inc. has a 12 month low of $28.72 and a 12 month high of $58.38. The company has a market capitalization of $3.65 billion, a PE ratio of -7.75 and a beta of 0.52. The firm's fifty day moving average is $48.22 and its 200 day moving average is $47.24.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the prior year, the company posted ($1.20) EPS. The firm's revenue was down 9.6% on a year-over-year basis. Equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTCT shares. Barclays dropped their target price on PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the company from $55.00 to $68.00 in a report on Friday, May 9th. Robert W. Baird dropped their target price on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their target price on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and dropped their target price for the company from $50.00 to $40.00 in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.92.

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.