ADAR1 Capital Management LLC Acquires 28,023 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

ADAR1 Capital Management LLC increased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 140.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 48,023 shares of the biopharmaceutical company’s stock after purchasing an additional 28,023 shares during the quarter. ADAR1 Capital Management LLC’s holdings in PTC Therapeutics were worth $2,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC grew its holdings in PTC Therapeutics by 78.7% during the 4th 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 bought a new stake in PTC Therapeutics in the fourth quarter valued at about $68,000. R Squared Ltd acquired a new position in PTC Therapeutics in the fourth quarter valued at about $79,000. KBC Group NV raised its holdings in 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 purchasing an additional 813 shares during the period. Finally, Savant Capital LLC acquired a new position in PTC Therapeutics in the fourth quarter valued at about $210,000.

PTC Therapeutics Price Performance

Shares of PTCT opened at $43.24 on Monday. The company has a market cap of $3.41 billion, a P/E ratio of -7.28 and a beta of 0.58. The stock has a fifty day moving average price of $51.22 and a 200 day moving average price of $45.70. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $58.38.

Insider Buying and Selling at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 810 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $36,725.40. Following the sale, the executive vice president now owns 79,849 shares of the company’s stock, valued at $3,620,353.66. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christine Marie Utter sold 1,291 shares of PTC Therapeutics 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 in the company, valued at approximately $2,991,669.22. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,009 shares of company stock valued at $1,841,161 in the last three months. 5.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PTCT shares. Royal Bank of Canada upped their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Citigroup increased their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Scotiabank assumed coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price for the company. Cantor Fitzgerald increased their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned 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 $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.