PTC Therapeutics, Inc. (PTCT) Stake Boosted by RTW Investments LP

RTW Investments LP grew its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,495,143 shares of the biopharmaceutical company’s stock after acquiring an additional 190,929 shares during the quarter. PTC Therapeutics comprises approximately 12.2% of RTW Investments LP’s investment portfolio, making the stock its 2nd largest holding. RTW Investments LP owned about 8.42% of PTC Therapeutics worth $69,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new position in PTC Therapeutics in the 3rd quarter worth approximately $102,000. Nisa Investment Advisors LLC acquired a new position in PTC Therapeutics in the 2nd quarter worth approximately $125,000. Public Employees Retirement System of Ohio acquired a new position in PTC Therapeutics in the 2nd quarter worth approximately $142,000. Quantbot Technologies LP acquired a new position in PTC Therapeutics in the 3rd quarter worth approximately $150,000. Finally, Prudential Financial Inc. acquired a new position in PTC Therapeutics in the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Shares of PTC Therapeutics, Inc. (NASDAQ PTCT) opened at $15.97 on Wednesday. The company has a quick ratio of 2.97, a current ratio of 3.08 and a debt-to-equity ratio of 0.98. PTC Therapeutics, Inc. has a 52-week low of $8.12 and a 52-week high of $22.00.

Several brokerages recently weighed in on PTCT. BidaskClub downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. William Blair began coverage on shares of PTC Therapeutics in a report on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 price target on the stock. Barclays cut their price target on shares of PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 29th. J P Morgan Chase & Co downgraded shares of PTC Therapeutics from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $23.00 to $15.00 in a report on Monday, October 9th. Finally, Royal Bank Of Canada set a $15.00 price target on shares of PTC Therapeutics and gave the stock a “hold” rating in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.75.

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PTC Therapeutics Company 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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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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