Duality Advisers LP Increases Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Duality Advisers LP lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 5.8% in the first quarter, HoldingsChannel reports. The firm owned 49,322 shares of the biopharmaceutical company’s stock after buying an additional 2,724 shares during the period. Duality Advisers LP’s holdings in PTC Therapeutics were worth $1,435,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PTCT. Wellington Management Group LLP boosted its stake in PTC Therapeutics by 39.0% during the third quarter. Wellington Management Group LLP now owns 9,436,188 shares of the biopharmaceutical company’s stock worth $211,465,000 after buying an additional 2,649,824 shares during the period. Vanguard Group Inc. boosted its stake in shares of PTC Therapeutics by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock valued at $242,551,000 after purchasing an additional 855,354 shares during the period. Armistice Capital LLC boosted its stake in shares of PTC Therapeutics by 11.6% in the fourth quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock valued at $189,172,000 after purchasing an additional 714,000 shares during the period. Norges Bank purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $15,058,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of PTC Therapeutics by 263.3% in the fourth quarter. BNP Paribas Financial Markets now owns 371,580 shares of the biopharmaceutical company’s stock valued at $10,241,000 after purchasing an additional 269,292 shares during the period.

Insider Activity at PTC Therapeutics

In related news, Director Jerome B. Zeldis sold 20,000 shares of PTC Therapeutics stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total value of $764,800.00. Following the transaction, the director now directly owns 14,500 shares in the company, valued at approximately $554,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jerome B. Zeldis sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total transaction of $764,800.00. Following the completion of the transaction, the director now directly owns 14,500 shares of the company’s stock, valued at approximately $554,480. The disclosure for this sale can be found here. Insiders have sold a total of 24,323 shares of company stock worth $873,984 in the last three months. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

PTCT has been the subject of several recent research reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $53.00 price objective on shares of PTC Therapeutics in a research note on Thursday, June 20th. Citigroup raised their price objective on shares of PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, May 21st. Bank of America raised their price objective on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research note on Friday, June 21st. Jefferies Financial Group raised their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, The Goldman Sachs Group raised their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.53.

PTC Therapeutics Stock Performance

PTCT stock traded up $0.09 during midday trading on Friday, reaching $33.29. 224,593 shares of the company were exchanged, compared to its average volume of 961,210. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -4.28 and a beta of 0.65. The stock’s 50-day simple moving average is $34.63 and its 200 day simple moving average is $30.25. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $42.14.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to analysts’ expectations of $160.27 million. On average, research analysts anticipate that PTC Therapeutics, Inc. will post -4.9 earnings per share for the current year.

PTC Therapeutics 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.