Trexquant Investment LP Acquires 95,418 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Trexquant Investment LP increased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 43.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 313,417 shares of the biopharmaceutical company’s stock after buying an additional 95,418 shares during the period. Trexquant Investment LP’s holdings in PTC Therapeutics were worth $14,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its position in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 270 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at $68,000. R Squared Ltd purchased a new stake in PTC Therapeutics during the 4th quarter worth about $79,000. KBC Group NV boosted its stake in PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 813 shares during the period. Finally, Savant Capital LLC purchased a new position in PTC Therapeutics during the 4th quarter valued at about $210,000.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $55.00 in a report on Tuesday, March 11th. Robert W. Baird raised their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Barclays upped their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

Insider Buying and Selling at PTC Therapeutics

In related news, Director Stephanie Okey sold 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Pauwels sold 1,599 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $72,498.66. Following the transaction, the chief executive officer now owns 88,941 shares in the company, valued at approximately $4,032,584.94. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,112 shares of company stock worth $1,799,047 over the last ninety days. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Down 8.6 %

Shares of NASDAQ PTCT opened at $46.60 on Wednesday. The stock’s 50-day moving average is $51.21 and its 200 day moving average is $45.46. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -7.85 and a beta of 0.66. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $58.38.

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.