Susquehanna Fundamental Investments LLC Acquires New Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,670 shares of the biopharmaceutical company's stock, valued at approximately $1,430,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Arizona State Retirement System raised its holdings in PTC Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock valued at $907,000 after acquiring an additional 219 shares in the last quarter. Choreo LLC lifted its holdings in shares of 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 acquiring an additional 240 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of PTC Therapeutics by 3.3% in 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 in the last quarter. Smartleaf Asset Management LLC increased its position in 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 purchasing an additional 270 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company's stock valued at $269,000 after purchasing an additional 455 shares during the last quarter.

PTC Therapeutics Stock Performance

PTCT traded down $0.67 on Tuesday, hitting $39.98. 387,219 shares of the company were exchanged, compared to its average volume of 815,258. PTC Therapeutics, Inc. has a 12 month low of $28.72 and a 12 month high of $58.38. The firm has a fifty day simple moving average of $49.80 and a two-hundred day simple moving average of $47.05. The stock has a market capitalization of $3.15 billion, a PE ratio of -6.74 and a beta of 0.52.

Wall Street Analyst Weigh In

PTCT has been the topic of several research reports. Bank of America upgraded PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $41.00 to $55.00 in a report on Tuesday, March 11th. Morgan Stanley restated an "overweight" rating and issued a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Scotiabank initiated coverage on PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 target price on the stock. Cantor Fitzgerald increased their price target on PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $65.00 target price on shares of PTC Therapeutics in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.92.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 2,804 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total value of $136,666.96. Following the transaction, the chief executive officer now owns 273,234 shares of the company's stock, valued at approximately $13,317,425.16. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephanie Okey sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares in the company, valued at $478,818. The trade was a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,305 shares of company stock worth $1,682,755 in the last ninety days. Insiders own 5.50% of the company's stock.

PTC Therapeutics Company 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.