SPX Gestao de Recursos Ltda Buys Shares of 25,000 PTC Therapeutics, Inc. (NASDAQ:PTCT)

SPX Gestao de Recursos Ltda bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, Holdings Channel.com reports. The fund bought 25,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,128,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vontobel Holding Ltd. bought a new stake in PTC Therapeutics during the 4th quarter valued at $521,000. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $26,220,000 after acquiring an additional 47,902 shares during the period. Two Sigma Advisers LP raised its holdings in PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares during the period. Intech Investment Management LLC bought a new stake in PTC Therapeutics during the 3rd quarter valued at $698,000. Finally, Quest Partners LLC raised its holdings in PTC Therapeutics by 433.9% during the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 18,171 shares during the period.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $52.49 on Tuesday. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $55.60. The firm has a fifty day moving average of $47.99 and a 200 day moving average of $43.11. The firm has a market capitalization of $4.14 billion, a PE ratio of -8.84 and a beta of 0.66.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 1,168 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $58,516.80. Following the completion of the sale, the chief financial officer now directly owns 75,603 shares in the company, valued at $3,787,710.30. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew B. Klein sold 8,279 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total transaction of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,870 shares of company stock worth $1,075,657 over the last three months. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PTCT. JPMorgan Chase & Co. decreased their price target on shares of PTC Therapeutics from $74.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday. Barclays upped their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Robert W. Baird upped their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PTC Therapeutics has an average rating of “Hold” and a consensus price target of $61.77.

PTC Therapeutics 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.