Sector Gamma AS Purchases Shares of 65,250 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Sector Gamma AS bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 65,250 shares of the biopharmaceutical company's stock, valued at approximately $2,945,000. PTC Therapeutics makes up about 1.0% of Sector Gamma AS's investment portfolio, making the stock its 26th largest position. Sector Gamma AS owned 0.08% of PTC Therapeutics as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PTCT. Point72 Asset Management L.P. boosted its stake in PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company's stock worth $21,364,000 after purchasing an additional 643,960 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new position in PTC Therapeutics in the third quarter worth about $7,234,000. State Street Corp lifted its stake in shares of PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock worth $107,554,000 after buying an additional 149,700 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $2,200,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after acquiring an additional 47,902 shares during the last quarter.

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Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Stephanie Okey sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now directly owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christine Marie Utter sold 1,291 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $58,533.94. Following the completion of the sale, the chief accounting officer now directly owns 65,983 shares of the company's stock, valued at approximately $2,991,669.22. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,391 shares of company stock worth $2,172,927. Insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded down $0.76 during midday trading on Tuesday, reaching $56.27. 1,242,867 shares of the stock traded hands, compared to its average volume of 737,232. The business has a 50-day moving average of $50.04 and a two-hundred day moving average of $44.58. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $58.38. The stock has a market capitalization of $4.44 billion, a PE ratio of -9.47 and a beta of 0.66.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group boosted their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. Scotiabank initiated coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price objective on the stock. Citigroup raised their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.00.

PTC Therapeutics Company 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.