ADAR1 Capital Management LLC Has $2.17 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

ADAR1 Capital Management LLC grew its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 140.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,023 shares of the biopharmaceutical company's stock after purchasing an additional 28,023 shares during the period. ADAR1 Capital Management LLC owned about 0.06% of PTC Therapeutics worth $2,168,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after buying an additional 53,688 shares in the last quarter. State Street Corp grew its holdings in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock worth $107,554,000 after purchasing an additional 149,700 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock worth $66,743,000 after purchasing an additional 10,886 shares during the period. Pictet Asset Management Holding SA raised its stake in PTC Therapeutics by 107.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock valued at $33,241,000 after purchasing an additional 381,319 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company's stock worth $15,947,000 after purchasing an additional 40,300 shares during the period.

Insiders Place Their Bets

In related news, CFO Pierre Gravier sold 1,168 shares of PTC Therapeutics stock in a transaction on 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 transaction, the chief financial officer now owns 75,603 shares of the company's stock, valued at $3,787,710.30. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Scott Golden sold 897 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total transaction of $42,114.15. Following the completion of the transaction, the executive vice president now owns 75,997 shares in the company, valued at approximately $3,568,059.15. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,501 shares of company stock valued at $1,546,088. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded up $2.69 during trading on Friday, hitting $42.98. The company's stock had a trading volume of 1,488,774 shares, compared to its average volume of 816,833. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -7.24 and a beta of 0.58. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $58.38. The stock has a 50-day moving average price of $50.48 and a two-hundred day moving average price of $45.82.

Analyst Upgrades and Downgrades

PTCT has been the topic of several recent analyst reports. Scotiabank assumed coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock. Citigroup upped their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research note on Wednesday, February 12th. Morgan Stanley reiterated an "overweight" rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. StockNews.com downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Royal Bank of Canada lifted their target price on PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PTC Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $63.77.

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.