PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Acquired by Duality Advisers LP

Duality Advisers LP increased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,598 shares of the biopharmaceutical company’s stock after buying an additional 10,625 shares during the period. Duality Advisers LP owned about 0.06% of PTC Therapeutics worth $1,284,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in PTC Therapeutics by 99.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 969 shares during the last quarter. Nisa Investment Advisors LLC increased its position in PTC Therapeutics by 317.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,019 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in PTC Therapeutics by 12.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 559 shares during the last quarter. Neo Ivy Capital Management increased its position in PTC Therapeutics by 2,437.6% during the third quarter. Neo Ivy Capital Management now owns 11,800 shares of the biopharmaceutical company’s stock worth $264,000 after purchasing an additional 11,335 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in PTC Therapeutics by 12.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 1,509 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PTCT. Jefferies Financial Group boosted their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. TD Cowen decreased their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Finally, Royal Bank of Canada boosted their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.53.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the sale, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 6,404 shares of company stock valued at $165,506 over the last ninety days. Corporate insiders own 5.30% of the company’s stock.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $25.41 on Wednesday. The firm has a fifty day simple moving average of $28.10 and a 200-day simple moving average of $25.74. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.53). The company had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. As a group, equities analysts predict that PTC Therapeutics, Inc. will post -5.94 earnings per share for the current fiscal year.

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.