PTC Therapeutics, Inc. (NASDAQ:PTCT) Stake Boosted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 3,636.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,553 shares of the biopharmaceutical company's stock after purchasing an additional 16,110 shares during the quarter. Tower Research Capital LLC TRC's holdings in PTC Therapeutics were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in shares of PTC Therapeutics by 10.4% in the fourth quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company's stock valued at $759,000 after purchasing an additional 1,578 shares during the period. Janney Montgomery Scott LLC grew its holdings 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 buying an additional 455 shares during the period. KBC Group NV increased 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 valued at $137,000 after acquiring an additional 813 shares during the last quarter. R Squared Ltd purchased a new position in shares of PTC Therapeutics during the 4th quarter worth about $79,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of PTC Therapeutics by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,353 shares of the biopharmaceutical company's stock worth $738,000 after acquiring an additional 1,558 shares during the last quarter.

PTC Therapeutics Stock Down 0.5 %

Shares of NASDAQ PTCT traded down $0.24 during trading on Thursday, reaching $49.60. 544,464 shares of the stock were exchanged, compared to its average volume of 801,607. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.34 and a beta of 0.58. The business's 50-day moving average price is $50.02 and its 200 day moving average price is $46.74. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Citigroup lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a report on Wednesday, February 12th. StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. 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, Bank of America raised shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Two research 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. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $63.92.

Insiders Place Their Bets

In other news, Director Stephanie Okey sold 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the sale, the director now owns 8,867 shares of the company's stock, valued at approximately $478,818. The trade was a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christine Marie Utter sold 879 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 63,442 shares in the company, valued at approximately $3,178,444.20. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,305 shares of company stock worth $1,682,755 in the last quarter. 5.50% of the stock is owned by corporate insiders.

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.