Alpha DNA Investment Management LLC Buys Shares of 10,258 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Alpha DNA Investment Management LLC purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,258 shares of the biopharmaceutical company’s stock, valued at approximately $463,000.

A number of other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in PTC Therapeutics by 78.7% during 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 grew its stake in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 522 shares during the period. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the 4th quarter worth about $68,000. R Squared Ltd bought a new stake in PTC Therapeutics in the 4th quarter valued at about $79,000. Finally, KBC Group NV lifted its holdings in PTC Therapeutics by 36.4% during the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 813 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Cantor Fitzgerald lifted their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Citigroup raised their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Finally, Bank of America upgraded PTC Therapeutics from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.77.

PTC Therapeutics Trading Up 2.1 %

Shares of NASDAQ PTCT opened at $47.39 on Friday. The business has a 50-day moving average of $50.20 and a 200-day moving average of $46.09. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -7.98 and a beta of 0.58. 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 PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction 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. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Pauwels sold 1,378 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $69,037.80. Following the completion of the transaction, the chief executive officer now owns 85,427 shares of the company’s stock, valued at $4,279,892.70. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,501 shares of company stock worth $1,546,088 over the last three months. 5.50% of the stock is owned by insiders.

About PTC Therapeutics

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.