Sector Gamma AS Takes $2.95 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Sector Gamma AS purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,250 shares of the biopharmaceutical company’s stock, valued at approximately $2,945,000. PTC Therapeutics accounts for about 1.0% of Sector Gamma AS’s investment portfolio, making the stock its 26th largest position. Sector Gamma AS owned 0.08% of PTC Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC grew its stake in PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares during the period. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the fourth quarter worth $68,000. R Squared Ltd purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth $79,000. KBC Group NV grew its stake in shares of PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth $210,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Scotiabank assumed coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. The Goldman Sachs Group upped their price target on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on PTC Therapeutics from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Robert W. Baird upped their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 1,543 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $69,959.62. Following the completion of the transaction, the vice president now owns 108,846 shares in the company, valued at $4,935,077.64. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew B. Klein sold 8,279 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the transaction, the chief executive officer now owns 217,528 shares of the company’s stock, valued at $9,823,564.48. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,391 shares of company stock valued at $2,172,927 over the last quarter. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Stock Down 0.6 %

NASDAQ PTCT opened at $56.63 on Friday. The stock’s 50-day moving average price is $49.52 and its 200-day moving average price is $44.10. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $58.38. The company has a market capitalization of $4.47 billion, a P/E ratio of -9.53 and a beta of 0.66.

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.