Bank of New York Mellon Corp raised its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 171,477 shares of the biopharmaceutical company’s stock after purchasing an additional 9,469 shares during the period. Bank of New York Mellon Corp owned about 0.41% of PTC Therapeutics worth $3,431,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in PTC Therapeutics in the second quarter valued at $142,000. Prudential Financial Inc. acquired a new stake in PTC Therapeutics in the second quarter valued at $201,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in PTC Therapeutics in the third quarter valued at $229,000. Voya Investment Management LLC grew its holdings in PTC Therapeutics by 12.8% in the second quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 1,866 shares during the last quarter. Finally, USA Financial Portformulas Corp acquired a new stake in PTC Therapeutics in the third quarter valued at $465,000. 86.12% of the stock is currently owned by institutional investors.
Shares of PTC Therapeutics, Inc. (PTCT) opened at $17.99 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.08 and a quick ratio of 2.97. PTC Therapeutics, Inc. has a 12-month low of $8.12 and a 12-month high of $22.00. The stock has a market capitalization of $746.40, a price-to-earnings ratio of -6.22 and a beta of 1.23.
PTCT has been the topic of several research reports. ValuEngine lowered PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Barclays reissued a “hold” rating and issued a $22.00 target price on shares of PTC Therapeutics in a report on Friday, September 8th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of PTC Therapeutics in a report on Tuesday, September 26th. Credit Suisse Group reissued an “outperform” rating and issued a $25.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 26th. Finally, Citigroup reissued a “buy” rating and issued a $28.00 target price on shares of PTC Therapeutics in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $18.25.
PTC Therapeutics Profile
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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