Aigen Investment Management LP Takes Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Aigen Investment Management LP bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,896 shares of the biopharmaceutical company's stock, valued at approximately $402,000.

Several other large investors have also recently added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 270 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in PTC Therapeutics in the fourth quarter valued at $68,000. R Squared Ltd acquired a new position in PTC Therapeutics during the 4th quarter worth $79,000. KBC Group NV increased its holdings in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 504 shares during the period. Finally, Savant Capital LLC acquired a new stake in PTC Therapeutics in the 4th quarter valued at about $210,000.

PTC Therapeutics Stock Up 0.2 %

NASDAQ:PTCT traded up $0.10 during trading hours on Tuesday, reaching $52.59. 833,010 shares of the company's stock were exchanged, compared to its average volume of 742,947. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $55.60. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of -8.85 and a beta of 0.66. The company has a 50-day moving average of $47.99 and a 200 day moving average of $43.11.

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Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Robert W. Baird increased their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Citigroup lifted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on shares of PTC Therapeutics from $74.00 to $72.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley restated an "overweight" rating and issued a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a research note on Friday. Two 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has an average rating of "Moderate Buy" and an average price target of $63.54.

Insider Activity

In other news, CEO Matthew B. Klein sold 8,279 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total transaction of $373,879.64. Following the completion of the sale, the chief executive officer now owns 217,528 shares in the company, valued at $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Allan Steven Jacobson sold 1,230 shares of PTC Therapeutics stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total transaction of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares in the company, valued at approximately $984,959.36. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,870 shares of company stock valued at $1,075,657. 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.