Duality Advisers LP Has $1.28 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Duality Advisers LP boosted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 29.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,598 shares of the biopharmaceutical company’s stock after acquiring an additional 10,625 shares during the quarter. Duality Advisers LP’s holdings in PTC Therapeutics were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its position in PTC Therapeutics by 99.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 969 shares in the last quarter. Nisa Investment Advisors LLC increased its position in PTC Therapeutics by 317.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 2,019 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in PTC Therapeutics by 12.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 559 shares in the last quarter. Neo Ivy Capital Management increased its position in PTC Therapeutics by 2,437.6% in the 3rd quarter. Neo Ivy Capital Management now owns 11,800 shares of the biopharmaceutical company’s stock valued at $264,000 after acquiring an additional 11,335 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in PTC Therapeutics by 12.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the biopharmaceutical company’s stock valued at $302,000 after acquiring an additional 1,509 shares in the last quarter.

PTC Therapeutics Price Performance

PTC Therapeutics stock opened at $25.41 on Wednesday. The company’s 50 day simple moving average is $28.10 and its 200 day simple moving average is $25.74. PTC Therapeutics, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.53). The company had revenue of $307.06 million for the quarter, compared to analyst estimates of $315.90 million. Equities research analysts predict that PTC Therapeutics, Inc. will post -5.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $24.89, for a total transaction of $83,655.29. Following the transaction, the chief executive officer now 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 can be accessed through this hyperlink. Insiders have sold 6,404 shares of company stock valued at $165,506 in the last 90 days. 5.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on PTCT. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, April 12th. Jefferies Financial Group lifted their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. TD Cowen lowered their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 1st. Finally, Royal Bank of Canada lifted their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, March 1st. Five investment 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. According to MarketBeat, PTC Therapeutics presently has an average rating of “Hold” and a consensus price target of $33.53.

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.