Proficio Capital Partners LLC Takes $758,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Proficio Capital Partners LLC purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,792 shares of the biopharmaceutical company’s stock, valued at approximately $758,000.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its position 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 valued at $107,554,000 after buying an additional 149,700 shares during the last quarter. Geode Capital Management LLC grew its stake in PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after acquiring an additional 10,886 shares in the last quarter. 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 valued at $26,220,000 after acquiring an additional 47,902 shares during the last quarter. Point72 Asset Management L.P. raised its holdings 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 valued at $21,364,000 after acquiring an additional 643,960 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PTC Therapeutics by 6.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company’s stock worth $17,522,000 after purchasing an additional 26,773 shares in the last quarter.

Insider Activity at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 1,291 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 65,983 shares in the company, valued at approximately $2,991,669.22. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,391 shares of company stock worth $2,172,927. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Stock Up 0.9 %

PTC Therapeutics stock opened at $57.14 on Friday. The firm has a fifty day moving average of $49.78 and a 200-day moving average of $44.33. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $58.38. The firm has a market capitalization of $4.51 billion, a P/E ratio of -9.62 and a beta of 0.66.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group raised 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. JPMorgan Chase & Co. raised their price target on shares of PTC Therapeutics from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Cantor Fitzgerald upped their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Robert W. Baird raised their target price on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank started coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price 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.