PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 9,393.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 48,514 shares of the biopharmaceutical company’s stock after acquiring an additional 48,003 shares during the quarter. GAMMA Investing LLC’s holdings in PTC Therapeutics were worth $2,472,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted 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 worth $28,000 after acquiring an additional 270 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 522 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $68,000. GF Fund Management CO. LTD. acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $77,000.

PTC Therapeutics Trading Up 0.3%

Shares of NASDAQ:PTCT opened at $50.98 on Friday. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38. The company’s 50 day moving average is $46.81 and its two-hundred day moving average is $48.06. The company has a market cap of $4.04 billion, a PE ratio of -8.58 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $437.16 million. During the same period in the prior year, the company posted ($1.20) earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PTCT shares. Barclays decreased their price objective on shares of PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Cantor Fitzgerald reduced their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada increased their target price on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.75.

Insider Buying and Selling at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 883 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $46.02, for a total value of $40,635.66. Following the transaction, the vice president now directly owns 103,901 shares of the company’s stock, valued at $4,781,524.02. This trade represents a 0.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew B. Klein sold 2,804 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer now directly owns 273,234 shares in the company, valued at $13,317,425.16. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,513 shares of company stock valued at $308,498. Insiders own 5.50% of the company’s stock.

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.