Hussman Strategic Advisors Inc. Buys Shares of 21,000 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Hussman Strategic Advisors Inc. bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,000 shares of the biopharmaceutical company’s stock, valued at approximately $948,000.

A number of other hedge funds have also modified their holdings of PTCT. Point72 Asset Management L.P. grew its holdings in shares of PTC Therapeutics by 945.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after purchasing an additional 643,960 shares during the period. Parkman Healthcare Partners LLC purchased a new position in shares of PTC Therapeutics during the 3rd quarter worth $7,234,000. State Street Corp grew its holdings in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of PTC Therapeutics by 32.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock worth $18,270,000 after purchasing an additional 119,637 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after purchasing an additional 47,902 shares during the period.

Insider Buying and Selling

In other news, CAO Christine Marie Utter sold 17,800 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total value 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 $2,714,197.56. The trade was a 25.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jerome B. Zeldis sold 24,000 shares of the business’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 transaction, the director now directly owns 14,500 shares of the company’s stock, valued at approximately $746,750. This trade represents a 62.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PTCT shares. UBS Group increased their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their price target on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company raised their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird lifted their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price target on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.85.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $50.38 on Friday. The stock has a fifty day moving average price of $46.58 and a 200 day moving average price of $41.35. The stock has a market cap of $3.89 billion, a PE ratio of -8.48 and a beta of 0.62. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $54.16.

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.