PTC Therapeutics, Inc. (NASDAQ:PTCT) Holdings Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 18.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,511 shares of the biopharmaceutical company’s stock after purchasing an additional 3,197 shares during the quarter. Teacher Retirement System of Texas’ holdings in PTC Therapeutics were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its position in shares of PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after acquiring an additional 149,700 shares in the last quarter. Geode Capital Management LLC boosted its stake in PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after purchasing an additional 47,902 shares in the last quarter. Point72 Asset Management L.P. raised its stake in PTC Therapeutics by 945.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after purchasing an additional 643,960 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after purchasing an additional 40,300 shares in the last quarter.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $54.24 on Friday. The stock’s 50 day simple moving average is $51.04 and its 200 day simple moving average is $45.15. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $58.38. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of -9.13 and a beta of 0.66.

Insider Activity

In other news, Director Stephanie Okey sold 5,000 shares of PTC Therapeutics stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. The trade was a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total value of $827,269.30. Following the sale, the vice president now owns 103,901 shares of the company’s stock, valued at approximately $5,537,923.30. The trade was a 13.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,391 shares of company stock valued at $2,172,927 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PTCT. Scotiabank began coverage on PTC Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price target on the stock. Barclays lifted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Royal Bank of Canada boosted their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.