Alps Advisors Inc. Has $767,000 Position in PTC Therapeutics, Inc. (PTCT)

Alps Advisors Inc. increased its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,975 shares of the biopharmaceutical company’s stock after purchasing an additional 5,213 shares during the quarter. Alps Advisors Inc. owned 0.11% of PTC Therapeutics worth $767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of PTC Therapeutics by 22.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 154,429 shares of the biopharmaceutical company’s stock valued at $2,831,000 after buying an additional 28,668 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of PTC Therapeutics in the second quarter valued at $201,000. Swiss National Bank increased its position in shares of PTC Therapeutics by 13.0% in the second quarter. Swiss National Bank now owns 56,565 shares of the biopharmaceutical company’s stock valued at $1,037,000 after buying an additional 6,500 shares in the last quarter. Teachers Advisors LLC increased its position in shares of PTC Therapeutics by 5.2% in the second quarter. Teachers Advisors LLC now owns 61,324 shares of the biopharmaceutical company’s stock valued at $1,124,000 after buying an additional 3,026 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of PTC Therapeutics by 56.3% in the second quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock valued at $928,000 after buying an additional 18,249 shares in the last quarter. 84.94% of the stock is owned by hedge funds and other institutional investors.

PTCT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Thursday, January 4th. Credit Suisse Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, January 30th. Barclays reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Tuesday, January 23rd. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada set a $15.00 price objective on PTC Therapeutics and gave the company a “hold” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. PTC Therapeutics has an average rating of “Hold” and an average target price of $19.57.

In other news, CEO Stuart Walter Peltz sold 2,230 shares of PTC Therapeutics stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the transaction, the chief executive officer now directly owns 26,646 shares of the company’s stock, valued at approximately $480,427.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,719 shares of company stock worth $48,848 over the last ninety days. Corporate insiders own 8.10% of the company’s stock.

Shares of PTC Therapeutics, Inc. (NASDAQ PTCT) opened at $23.93 on Monday. 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 52 week low of $8.12 and a 52 week high of $28.75.

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About PTC Therapeutics

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.

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

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