AlphaQuest LLC Sells 21,277 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

AlphaQuest LLC decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 95.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,082 shares of the biopharmaceutical company’s stock after selling 21,277 shares during the period. AlphaQuest LLC’s holdings in PTC Therapeutics were worth $49,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 270 shares during the last quarter. Venturi Wealth Management LLC acquired a new position 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 lifted its stake in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 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 Stock Performance

Shares of PTC Therapeutics stock opened at $56.63 on Friday. The business’s 50 day simple moving average is $49.52 and its 200 day simple moving average is $44.10. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $58.38. The firm has a market cap of $4.47 billion, a PE ratio of -9.53 and a beta of 0.66.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. The Goldman Sachs Group increased their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Royal Bank of Canada increased their target price on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. UBS Group increased their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 8,279 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the transaction, the chief executive officer now directly owns 217,528 shares in the company, valued at $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephanie Okey sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares of the company’s stock, valued at approximately $478,818. This represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,391 shares of company stock valued at $2,172,927. 5.50% of the stock is owned by 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.