PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 184.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,436 shares of the biopharmaceutical company's stock after buying an additional 21,034 shares during the period. Point72 Hong Kong Ltd's holdings in PTC Therapeutics were worth $1,464,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 270 shares during the period. Sterling Capital Management LLC boosted its holdings in PTC Therapeutics by 424.4% in 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 in the last quarter. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $68,000. R Squared Ltd acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $79,000. Finally, KBC Group NV raised its stake in shares of 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 in the last quarter.

Insider Activity at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 883 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.02, for a total value of $40,635.66. Following the completion of the transaction, the vice president now owns 103,901 shares of the company's stock, valued at $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the sale, the chief accounting officer now directly owns 63,442 shares of the company's stock, valued at $3,178,444.20. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,117 shares of company stock valued at $1,812,472. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PTCT. Royal Bank of Canada lifted their price target on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Robert W. Baird reduced 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. Cantor Fitzgerald decreased their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target on the stock. Finally, StockNews.com downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.92.

PTC Therapeutics Stock Performance

PTCT stock traded up $0.95 on Monday, reaching $46.96. The company had a trading volume of 798,144 shares, compared to its average volume of 870,518. The company's fifty day moving average is $48.09 and its 200 day moving average is $47.29. The company has a market cap of $3.72 billion, a P/E ratio of -7.91 and a beta of 0.52. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $437.16 million. The firm's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.20) earnings per share. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

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.