PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 133.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,410 shares of the biopharmaceutical company's stock after purchasing an additional 80,736 shares during the period. Cubist Systematic Strategies LLC owned 0.18% of PTC Therapeutics worth $6,383,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PTCT. Smartleaf Asset Management LLC lifted its holdings 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 worth $28,000 after acquiring an additional 270 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter worth about $68,000. R Squared Ltd purchased a new position in PTC Therapeutics in the fourth quarter valued at approximately $79,000. Finally, KBC Group NV raised its holdings in PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock valued at $137,000 after buying an additional 813 shares during the period.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of research reports. Cantor Fitzgerald cut 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 note on Wednesday, May 7th. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock. Morgan Stanley reissued an "overweight" rating and issued a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Citigroup raised shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and cut their target price for the company from $50.00 to $40.00 in a research note on Wednesday, May 7th. Finally, StockNews.com upgraded shares of PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $61.92.

Insider Buying and Selling at PTC Therapeutics

In related news, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the sale, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew B. Klein sold 2,804 shares of PTC Therapeutics stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the sale, the chief executive officer now owns 273,234 shares in the company, valued at approximately $13,317,425.16. This represents a 1.02% 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 worth $1,682,755 over the last 90 days. Insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Up 0.6%

PTCT stock traded up $0.26 during trading on Wednesday, hitting $46.65. 370,634 shares of the company's stock traded hands, compared to its average volume of 1,013,246. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38. The stock has a fifty day moving average price of $48.62 and a two-hundred day moving average price of $47.09. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -7.85 and a beta of 0.52.

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