Brevan Howard Capital Management LP Takes $551,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Brevan Howard Capital Management LP purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,197 shares of the biopharmaceutical company’s stock, valued at approximately $551,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PTCT. Smartleaf Asset Management LLC boosted 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 valued at $28,000 after purchasing an additional 270 shares during the period. Sterling Capital Management LLC boosted its position in PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 522 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of PTC Therapeutics during the fourth quarter valued at about $68,000. R Squared Ltd purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth about $79,000. Finally, KBC Group NV lifted its stake in shares of PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 813 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Matthew B. Klein sold 2,804 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the transaction, the chief executive officer now owns 273,234 shares in the company, valued at $13,317,425.16. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christine Marie Utter sold 879 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the sale, the chief accounting officer now owns 63,442 shares of the company’s stock, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,305 shares of company stock valued at $1,682,755 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $44.23 on Friday. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The firm has a fifty day moving average of $48.86 and a 200-day moving average of $46.99. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -7.45 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $9.19. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. During the same period in the previous year, the firm earned ($1.20) earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PTCT. Citigroup upgraded PTC Therapeutics from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $40.00 in a report on Wednesday. Scotiabank started coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price target for the company. Robert W. Baird decreased their price objective on shares of PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays cut their target price on shares of PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Cantor Fitzgerald decreased their price target on PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.92.

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.