Geode Capital Management LLC Has $66.74 Million Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Geode Capital Management LLC grew its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,798,666 shares of the biopharmaceutical company’s stock after buying an additional 10,886 shares during the quarter. Geode Capital Management LLC’s holdings in PTC Therapeutics were worth $66,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. KBC Group NV increased its position in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares in the last quarter. CWM LLC increased its holdings in shares of PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares during the period. Quest Partners LLC acquired a new position in shares of PTC Therapeutics during the second quarter worth approximately $128,000. Finally, Quarry LP grew its position in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 shares during the period.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CAO Christine Marie Utter sold 17,800 shares of the 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 transaction, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at approximately $2,714,197.56. This represents a 25.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerome B. Zeldis sold 24,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.50, for a total value of $1,236,000.00. Following the completion of the sale, the director now directly owns 14,500 shares of the company’s stock, valued at $746,750. This represents a 62.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,950 shares of company stock worth $10,251,735. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PTCT has been the topic of several research reports. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group upped their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Finally, Wells Fargo & Company lifted their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $54.08.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $46.24 on Friday. The firm has a market cap of $3.57 billion, a PE ratio of -7.78 and a beta of 0.63. PTC Therapeutics, Inc. has a 1 year low of $23.58 and a 1 year high of $54.16. The stock has a fifty day moving average price of $43.50 and a 200-day moving average price of $37.52.

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.