PDT Partners LLC Sells 72,987 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

PDT Partners LLC cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,081 shares of the biopharmaceutical company's stock after selling 72,987 shares during the quarter. PDT Partners LLC owned approximately 0.12% of PTC Therapeutics worth $4,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Arizona State Retirement System grew its holdings in shares of PTC Therapeutics by 1.1% in the fourth quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock worth $907,000 after acquiring an additional 219 shares during the period. Choreo LLC boosted its position in PTC Therapeutics by 2.0% in the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock worth $541,000 after purchasing an additional 240 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of PTC Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock valued at $360,000 after purchasing an additional 253 shares during the period. Smartleaf Asset Management LLC increased its position in shares of PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 270 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company's stock worth $269,000 after purchasing an additional 455 shares during the period.

Insiders Place Their Bets

In other PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $44,037.90. Following the sale, the chief accounting officer now owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Scott Golden sold 795 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $39,829.50. Following the sale, the executive vice president now directly owns 77,856 shares of the company's stock, valued at $3,900,585.60. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,305 shares of company stock valued at $1,682,755 over the last 90 days. Insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Morgan Stanley reissued an "overweight" rating and set a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $65.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald upped their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.92.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded down $0.32 during trading on Thursday, hitting $49.52. The stock had a trading volume of 1,135,413 shares, compared to its average volume of 803,491. The stock has a market cap of $3.91 billion, a PE ratio of -8.34 and a beta of 0.58. PTC Therapeutics, Inc. has a 12 month low of $28.72 and a 12 month high of $58.38. The firm's fifty day simple moving average is $50.02 and its 200-day simple moving average is $46.74.

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.