PDT Partners LLC Buys 25,688 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

PDT Partners LLC grew its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 18.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,068 shares of the biopharmaceutical company’s stock after acquiring an additional 25,688 shares during the quarter. PTC Therapeutics comprises approximately 0.5% of PDT Partners LLC’s portfolio, making the stock its 12th biggest position. PDT Partners LLC owned approximately 0.21% of PTC Therapeutics worth $6,124,000 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 company. KBC Group NV lifted its position in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 504 shares in the last quarter. CWM LLC lifted its holdings in shares of PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of PTC Therapeutics during the second quarter valued at $128,000. Finally, Quarry LP increased its holdings in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 2,500 shares in the last quarter.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $43.88 on Friday. The company has a market capitalization of $3.38 billion, a P/E ratio of -7.39 and a beta of 0.63. PTC Therapeutics, Inc. has a 1-year low of $22.47 and a 1-year high of $47.24. The firm’s 50 day simple moving average is $40.22 and its two-hundred day simple moving average is $36.27.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James assumed coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. Royal Bank of Canada raised their price target on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.69.

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.