PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) by 33.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,517 shares of the biopharmaceutical company’s stock after selling 23,749 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of PTC Therapeutics worth $2,335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in PTC Therapeutics by 13.8% during the second quarter. State Street Corp now owns 3,624,877 shares of the biopharmaceutical company’s stock valued at $145,213,000 after acquiring an additional 440,850 shares in the last quarter. Handelsbanken Fonder AB raised its position in PTC Therapeutics by 37.3% during the second quarter. Handelsbanken Fonder AB now owns 520,400 shares of the biopharmaceutical company’s stock valued at $20,847,000 after acquiring an additional 141,400 shares in the last quarter. Macquarie Group Ltd. raised its position in PTC Therapeutics by 8.7% during the second quarter. Macquarie Group Ltd. now owns 1,688,734 shares of the biopharmaceutical company’s stock valued at $67,650,000 after acquiring an additional 135,806 shares in the last quarter. Assenagon Asset Management S.A. raised its position in PTC Therapeutics by 1,242.0% during the third quarter. Assenagon Asset Management S.A. now owns 129,222 shares of the biopharmaceutical company’s stock valued at $6,487,000 after acquiring an additional 119,593 shares in the last quarter. Finally, Redwood Investments LLC raised its position in PTC Therapeutics by 32.7% during the second quarter. Redwood Investments LLC now owns 471,978 shares of the biopharmaceutical company’s stock valued at $18,907,000 after acquiring an additional 116,317 shares in the last quarter.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 835 shares of the business’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $41.66, for a total transaction of $34,786.10. Following the transaction, the vice president now owns 77,275 shares of the company’s stock, valued at $3,219,276.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Neil Gregory Almstead sold 716 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $41.66, for a total value of $29,828.56. Following the transaction, the insider now owns 65,435 shares of the company’s stock, valued at approximately $2,726,022.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 835 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $41.66, for a total value of $34,786.10. Following the completion of the transaction, the vice president now directly owns 77,275 shares in the company, valued at approximately $3,219,276.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,678 shares of company stock valued at $458,740. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 1st. The Goldman Sachs Group initiated coverage on PTC Therapeutics in a research report on Wednesday, December 14th. They issued a “sell” rating and a $35.00 price objective for the company. Royal Bank of Canada cut their price objective on PTC Therapeutics from $60.00 to $46.00 and set a “sector perform” rating for the company in a research report on Friday, October 28th. Cowen cut their price objective on PTC Therapeutics to $44.00 in a research report on Tuesday, November 1st. Finally, Morgan Stanley cut their price objective on PTC Therapeutics from $54.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.73.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $47.78 on Tuesday. The business’s 50 day moving average price is $39.56 and its 200-day moving average price is $45.03. The firm has a market capitalization of $3.49 billion, a PE ratio of -6.40 and a beta of 0.50. PTC Therapeutics, Inc. has a 1 year low of $25.01 and a 1 year high of $55.58.

PTC Therapeutics (NASDAQ:PTCT – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.37) by ($0.16). The business had revenue of $217.13 million during the quarter, compared to the consensus estimate of $194.18 million. As a group, analysts expect that PTC Therapeutics, Inc. will post -6.89 earnings per share for the current year.

PTC Therapeutics Profile

(Get Rating)

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.