ADAR1 Capital Management LLC Raises Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

ADAR1 Capital Management LLC boosted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 140.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,023 shares of the biopharmaceutical company’s stock after purchasing an additional 28,023 shares during the period. ADAR1 Capital Management LLC owned approximately 0.06% of PTC Therapeutics worth $2,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTCT. Smartleaf Asset Management LLC increased 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 during the period. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics in the fourth quarter valued at approximately $68,000. R Squared Ltd purchased a new stake in PTC Therapeutics in the 4th quarter worth approximately $79,000. KBC Group NV raised its holdings in PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 813 shares during the period. Finally, Savant Capital LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at approximately $210,000.

PTC Therapeutics Trading Down 7.5 %

NASDAQ PTCT opened at $43.24 on Monday. The company has a market cap of $3.41 billion, a PE ratio of -7.28 and a beta of 0.58. The stock’s 50-day moving average price is $51.22 and its two-hundred day moving average price is $45.70. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38.

Insider Activity at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 15,521 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total value of $827,269.30. Following the sale, the vice president now owns 103,901 shares of the company’s stock, valued at $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $63,369.60. Following the transaction, the director now directly owns 19,118 shares of the company’s stock, valued at approximately $984,959.36. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,009 shares of company stock valued at $1,841,161. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PTCT. Morgan Stanley restated an “overweight” rating and set a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Royal Bank of Canada raised their target price on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Citigroup raised their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald raised their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.77.

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.