State of New Jersey Common Pension Fund D Has $2.41 Million Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

State of New Jersey Common Pension Fund D reduced its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,332 shares of the biopharmaceutical company’s stock after selling 3,488 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PTC Therapeutics were worth $2,407,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $79,000. KBC Group NV grew its stake in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares in the last quarter. CWM LLC grew its stake in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares in the last quarter. Finally, Savant Capital LLC bought a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $210,000.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CAO Christine Marie Utter sold 17,800 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total transaction of $921,506.00. Following the completion of the sale, the chief accounting officer now owns 52,428 shares of the company’s stock, valued at $2,714,197.56. This trade represents a 25.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00. Following the sale, the insider now directly owns 86,202 shares of the company’s stock, valued at $4,487,676.12. This represents a 44.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock valued at $10,920,687 in the last quarter. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $50.38 on Friday. The business has a fifty day simple moving average of $46.58 and a two-hundred day simple moving average of $41.35. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $54.16. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -8.48 and a beta of 0.62.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group raised their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald raised their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays raised their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird raised their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $58.85.

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.