GC Wealth Management RIA LLC Makes New $363,000 Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

GC Wealth Management RIA LLC bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,032 shares of the biopharmaceutical company’s stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PTCT. Point72 Asset Management L.P. grew its stake in shares of PTC Therapeutics by 945.6% during the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after buying an additional 643,960 shares during the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of PTC Therapeutics during the third quarter worth $7,234,000. State Street Corp grew its stake in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after buying an additional 149,700 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth $2,200,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares during the last quarter.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the sale, the chief accounting officer now directly owns 65,983 shares in the company, valued at approximately $2,991,669.22. The trade was a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Allan Steven Jacobson sold 1,230 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total transaction of $63,369.60. Following the transaction, the director now directly owns 19,118 shares of the company’s stock, valued at approximately $984,959.36. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,870 shares of company stock worth $1,075,657. 5.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $41.00 to $55.00 in a research note on Tuesday. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Barclays boosted their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.54.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $52.59 on Wednesday. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $55.60. The firm has a fifty day moving average price of $48.14 and a 200-day moving average price of $43.24. The stock has a market cap of $4.15 billion, a PE ratio of -8.85 and a beta of 0.66.

PTC Therapeutics Company 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.