16,792 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,792 shares of the biopharmaceutical company's stock, valued at approximately $758,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PTCT. Choreo LLC increased its holdings in PTC Therapeutics by 2.0% during the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock valued at $541,000 after purchasing an additional 240 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of PTC Therapeutics by 8.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company's stock valued at $269,000 after buying an additional 455 shares during the period. KBC Group NV increased its stake in shares of PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock valued at $83,000 after buying an additional 504 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PTC Therapeutics by 6.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company's stock valued at $572,000 after acquiring an additional 884 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the fourth quarter worth $68,000.

PTC Therapeutics Stock Up 2.1 %

Shares of NASDAQ PTCT traded up $1.09 during trading on Wednesday, reaching $53.68. The company had a trading volume of 311,917 shares, compared to its average volume of 739,927. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $55.60. The business's 50-day moving average is $48.14 and its 200 day moving average is $43.24. The stock has a market cap of $4.23 billion, a PE ratio of -9.03 and a beta of 0.66.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have commented on PTCT shares. Morgan Stanley restated an "overweight" rating and issued a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. JPMorgan Chase & Co. decreased their price target 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. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Scotiabank started coverage on PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a "sell" rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.54.

Insider Buying and Selling

In other news, Director Allan Steven Jacobson sold 1,230 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares in the company, valued at $984,959.36. The trade was a 6.04 % 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, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the sale, the chief executive officer now directly owns 217,528 shares in the company, valued at $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,870 shares of company stock worth $1,075,657 in the last quarter. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Profile

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.