PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report) by 366.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,661 shares of the biopharmaceutical company’s stock after purchasing an additional 190,628 shares during the period. Assenagon Asset Management S.A. owned about 0.32% of PTC Therapeutics worth $6,688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rathbones Group PLC purchased a new position in shares of PTC Therapeutics in the third quarter valued at approximately $532,000. Charles Schwab Investment Management Inc. lifted its position in shares of PTC Therapeutics by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company’s stock valued at $13,373,000 after acquiring an additional 23,288 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of PTC Therapeutics by 10.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock valued at $25,160,000 after acquiring an additional 104,024 shares in the last quarter. Walleye Capital LLC lifted its position in shares of PTC Therapeutics by 958.6% in the third quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock valued at $1,614,000 after acquiring an additional 65,226 shares in the last quarter. Finally, Neo Ivy Capital Management lifted its position in shares of PTC Therapeutics by 2,437.6% in the third quarter. Neo Ivy Capital Management now owns 11,800 shares of the biopharmaceutical company’s stock valued at $264,000 after acquiring an additional 11,335 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PTCT. Jefferies Financial Group raised their target price on PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company began coverage on PTC Therapeutics in a research report on Friday, December 8th. They set an “overweight” rating and a $37.00 price objective on the stock. TD Cowen reduced their price objective on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Morgan Stanley downgraded PTC Therapeutics from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Tuesday, December 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, March 1st. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.53.

View Our Latest Stock Report on PTCT

Insider Activity

In related news, CAO Christine Marie Utter sold 1,188 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $28.64, for a total transaction of $34,024.32. Following the completion of the transaction, the chief accounting officer now directly owns 37,499 shares of the company’s stock, valued at approximately $1,073,971.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Matthew B. Klein sold 10,107 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $27.15, for a total transaction of $274,405.05. Following the completion of the transaction, the chief executive officer now directly owns 168,155 shares of the company’s stock, valued at approximately $4,565,408.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christine Marie Utter sold 1,188 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $28.64, for a total value of $34,024.32. Following the transaction, the chief accounting officer now directly owns 37,499 shares of the company’s stock, valued at $1,073,971.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,788 shares of company stock valued at $821,819. 5.30% of the stock is currently owned by corporate insiders.

PTC Therapeutics Trading Down 1.2 %

Shares of NASDAQ PTCT opened at $29.09 on Friday. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $59.84. The stock has a fifty day simple moving average of $27.95 and a 200-day simple moving average of $25.51. The stock has a market capitalization of $2.23 billion, a PE ratio of -3.48 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The firm had revenue of $307.06 million during the quarter, compared to analyst estimates of $315.90 million. On average, equities analysts predict that PTC Therapeutics, Inc. will post -5.95 earnings per share for the current year.

PTC Therapeutics Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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