9,492 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Purchased by Nebula Research & Development LLC

Nebula Research & Development LLC bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,492 shares of the biopharmaceutical company’s stock, valued at approximately $428,000.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System lifted its holdings in shares of PTC Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock worth $907,000 after acquiring an additional 219 shares during the last quarter. Choreo LLC raised its position in PTC Therapeutics by 2.0% in the fourth 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. Summit Investment Advisors Inc. lifted its stake in PTC Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 253 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 270 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of PTC Therapeutics by 8.3% in 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 in the last quarter.

PTC Therapeutics Trading Down 0.5 %

PTCT stock opened at $49.52 on Wednesday. The company’s 50 day moving average is $50.04 and its two-hundred day moving average is $46.72. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38. The stock has a market cap of $3.91 billion, a P/E ratio of -8.34 and a beta of 0.58.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PTCT shares. JPMorgan Chase & Co. lowered their target price on PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, March 31st. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Finally, Scotiabank initiated coverage on 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.92.

Insider Buying and Selling

In other news, EVP Lee Scott Golden sold 897 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total transaction of $42,114.15. Following the transaction, the executive vice president now directly owns 75,997 shares in the company, valued at approximately $3,568,059.15. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allan Steven Jacobson sold 1,230 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total transaction of $63,369.60. Following the completion of the sale, the director now owns 19,118 shares of the company’s stock, valued at approximately $984,959.36. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,305 shares of company stock worth $1,682,755 in the last ninety days. 5.50% of the stock is owned by corporate insiders.

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.