Natixis Advisors LLC Makes New $544,000 Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Natixis Advisors LLC purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,060 shares of the biopharmaceutical company’s stock, valued at approximately $544,000.

A number of other large investors also recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in PTC Therapeutics by 1.1% in the fourth quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock valued at $907,000 after buying an additional 219 shares during the period. Choreo LLC increased its stake in shares of PTC Therapeutics by 2.0% in the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock valued at $541,000 after acquiring an additional 240 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of PTC Therapeutics by 78.7% in the 4th 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 period. Janney Montgomery Scott LLC raised its position in shares of PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 455 shares during the period. Finally, KBC Group NV boosted its stake 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 acquiring an additional 813 shares during the last quarter.

PTC Therapeutics Stock Down 0.6 %

NASDAQ:PTCT opened at $54.99 on Friday. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -9.26 and a beta of 0.66. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $58.38. The stock’s 50 day moving average price is $50.83 and its two-hundred day moving average price is $44.90.

Insider Activity

In other news, CEO Matthew B. Klein sold 8,279 shares of the 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 directly owns 217,528 shares of the company’s stock, valued at $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,391 shares of company stock valued at $2,172,927. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Scotiabank initiated coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. UBS Group raised their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada lifted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Two research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.