Cibc World Markets Corp Acquires Shares of 7,127 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Cibc World Markets Corp acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,127 shares of the biopharmaceutical company's stock, valued at approximately $322,000.

Several other institutional investors also recently bought and sold shares of PTCT. Smartleaf Asset Management LLC boosted its position in PTC Therapeutics by 78.7% during 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 in the last quarter. Venturi Wealth Management LLC purchased a new position in PTC Therapeutics in the fourth quarter valued at about $68,000. R Squared Ltd bought a new position in PTC Therapeutics in the fourth quarter worth about $79,000. KBC Group NV raised its holdings in PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after purchasing an additional 813 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at about $210,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTCT. UBS Group lifted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted 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. JPMorgan Chase & Co. upped their price target on PTC Therapeutics from $72.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. StockNews.com cut PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Scotiabank began coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $64.00.

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Insider Activity at PTC Therapeutics

In other news, Director Stephanie Okey sold 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares of the company's stock, valued at $478,818. The trade was a 36.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the sale, the vice president now directly owns 103,901 shares in the company, valued at approximately $5,537,923.30. This trade represents a 13.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,391 shares of company stock worth $2,172,927 over the last three months. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Price Performance

PTCT traded down $0.75 during trading on Friday, reaching $54.24. 604,905 shares of the company's stock were exchanged, compared to its average volume of 780,222. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The company's fifty day simple moving average is $50.83 and its 200-day simple moving average is $44.90. The stock has a market capitalization of $4.28 billion, a P/E ratio of -9.13 and a beta of 0.66.

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.