65,250 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Acquired by Sector Gamma AS

Sector Gamma AS bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,250 shares of the biopharmaceutical company’s stock, valued at approximately $2,945,000. PTC Therapeutics makes up approximately 1.0% of Sector Gamma AS’s investment portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 270 shares during the period. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics during the 4th quarter valued at about $68,000. R Squared Ltd purchased a new stake in PTC Therapeutics during the 4th quarter valued at about $79,000. KBC Group NV grew its stake in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at about $210,000.

Insiders Place Their Bets

In related news, Director Allan Steven Jacobson sold 1,230 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the sale, the director now owns 19,118 shares in the company, valued at $984,959.36. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christine Marie Utter sold 1,291 shares of the firm’s stock in a transaction dated 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 owns 65,983 shares of the company’s stock, valued at approximately $2,991,669.22. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,391 shares of company stock valued at $2,172,927. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Price Performance

PTC Therapeutics stock opened at $56.63 on Friday. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $58.38. The stock has a market cap of $4.47 billion, a PE ratio of -9.53 and a beta of 0.66. The stock’s fifty day moving average is $49.52 and its two-hundred day moving average is $44.10.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Citigroup upped their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their price target on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Robert W. Baird increased their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald upped their price target on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.