Mirae Asset Global Investments Co. Ltd. grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT – Free Report) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,769 shares of the biopharmaceutical company’s stock after buying an additional 6,335 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of PTC Therapeutics worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP lifted its stake in shares of PTC Therapeutics by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 9,436,188 shares of the biopharmaceutical company’s stock valued at $211,465,000 after buying an additional 2,649,824 shares in the last quarter. Vanguard Group Inc. lifted its stake in PTC Therapeutics by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock worth $178,058,000 after purchasing an additional 393,012 shares during the last quarter. Armistice Capital LLC boosted its stake in PTC Therapeutics by 90.0% in the third quarter. Armistice Capital LLC now owns 6,150,000 shares of the biopharmaceutical company’s stock worth $137,822,000 after buying an additional 2,914,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of PTC Therapeutics by 10.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock valued at $25,160,000 after purchasing an additional 104,024 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in PTC Therapeutics by 4.1% during 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 buying an additional 23,288 shares during the period.
PTC Therapeutics Stock Performance
NASDAQ:PTCT opened at $25.97 on Tuesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -3.11 and a beta of 0.67. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $59.84. The firm’s fifty day moving average is $28.08 and its two-hundred day moving average is $25.71.
Insiders Place Their Bets
In other news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction that occurred 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 approximately $5,620,336.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 6,404 shares of company stock valued at $165,506 over the last ninety days. Company insiders own 5.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on PTCT shares. Royal Bank of Canada increased their price objective on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. TD Cowen dropped their price target 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. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, April 12th. Finally, Jefferies Financial Group lifted their target price on PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.53.
View Our Latest Stock Analysis on PTC Therapeutics
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.
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