Public Employees Retirement System of Ohio Sells 3,780 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Public Employees Retirement System of Ohio reduced its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 14.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,199 shares of the biopharmaceutical company’s stock after selling 3,780 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PTC Therapeutics were worth $861,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP boosted its holdings in PTC Therapeutics by 10.3% in the 3rd 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 during the period. Sphera Funds Management LTD. boosted its stake in PTC Therapeutics by 25.5% during the third quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock valued at $4,391,000 after buying an additional 24,027 shares during the period. State Street Corp grew its position in PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after buying an additional 149,700 shares in the last quarter. Point72 Asset Management L.P. increased its stake in PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after acquiring an additional 643,960 shares during the last quarter. Finally, Parkman Healthcare Partners LLC purchased a new stake in shares of PTC Therapeutics in the 3rd quarter valued at about $7,234,000.

PTC Therapeutics Stock Down 0.5 %

Shares of NASDAQ PTCT opened at $45.25 on Friday. The firm’s fifty day moving average is $43.36 and its 200 day moving average is $37.46. PTC Therapeutics, Inc. has a 52 week low of $23.58 and a 52 week high of $54.16. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -7.62 and a beta of 0.63.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 69,550 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the transaction, the insider now directly owns 86,202 shares of the company’s stock, valued at approximately $4,487,676.12. The trade was a 44.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 85,600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the completion of the sale, the vice president now directly owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,950 shares of company stock worth $10,251,735. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several recent analyst reports. Raymond James assumed coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating for the company. Robert W. Baird increased their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Finally, Citigroup lifted their price target on PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $54.08.

About PTC Therapeutics

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.