Jump Financial LLC Buys New Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Jump Financial LLC purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 62,809 shares of the biopharmaceutical company’s stock, valued at approximately $2,835,000. Jump Financial LLC owned about 0.08% of PTC Therapeutics as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after buying an additional 10,886 shares during the last quarter. Diversified Trust Co grew its holdings in PTC Therapeutics by 10.4% during the 4th quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock worth $759,000 after acquiring an additional 1,578 shares during the period. Janney Montgomery Scott LLC grew its holdings in PTC Therapeutics by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 455 shares during the period. KBC Group NV raised its position in shares of 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 acquiring an additional 813 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at about $79,000.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $44,037.90. Following the transaction, the chief accounting officer now owns 63,442 shares of the company’s stock, valued at approximately $3,178,444.20. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Scott Golden sold 897 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total value of $42,114.15. Following the sale, the executive vice president now directly owns 75,997 shares of the company’s stock, valued at approximately $3,568,059.15. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,501 shares of company stock worth $1,546,088. 5.50% of the stock is owned by insiders.

PTC Therapeutics Trading Up 2.1 %

Shares of NASDAQ:PTCT opened at $47.39 on Friday. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $58.38. The stock has a market cap of $3.74 billion, a PE ratio of -7.98 and a beta of 0.58. The stock’s fifty day simple moving average is $50.22 and its two-hundred day simple moving average is $46.01.

Analysts Set New Price Targets

PTCT has been the subject of a number of research analyst reports. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Morgan Stanley reiterated an “overweight” rating and set a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Citigroup increased their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Scotiabank assumed coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

PTC Therapeutics 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.