Cibc World Markets Corp Makes New Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Cibc World Markets Corp acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,127 shares of the biopharmaceutical company’s stock, valued at approximately $322,000.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased 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 valued at $28,000 after purchasing an additional 270 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at $68,000. R Squared Ltd bought a new position in shares of PTC Therapeutics in the fourth quarter valued at about $79,000. KBC Group NV lifted its position in PTC Therapeutics by 36.4% during the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 813 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in PTC Therapeutics during the 4th quarter worth about $210,000.

Insider Buying and Selling

In other PTC Therapeutics news, EVP Lee Scott Golden sold 795 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $39,829.50. Following the completion of the sale, the executive vice president now directly owns 77,856 shares in the company, valued at $3,900,585.60. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the transaction, the chief executive officer now owns 217,528 shares in the company, valued at $9,823,564.48. This trade represents a 3.67 % decrease in their position. 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 company insiders.

PTC Therapeutics Stock Performance

PTCT opened at $57.03 on Tuesday. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $58.38. The firm has a market cap of $4.50 billion, a PE ratio of -9.60 and a beta of 0.66. The firm’s fifty day moving average is $50.04 and its two-hundred day moving average is $44.58.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays boosted their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Citigroup upped their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. UBS Group boosted their target price on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird upped their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.