KLP Kapitalforvaltning AS Invests $646,000 in PTC Therapeutics, Inc. (NASDAQ:PTCT)

KLP Kapitalforvaltning AS bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,300 shares of the biopharmaceutical company’s stock, valued at approximately $646,000.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of 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 acquiring an additional 270 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics during the fourth quarter worth approximately $68,000. R Squared Ltd purchased a new position in PTC Therapeutics during the fourth quarter worth approximately $79,000. KBC Group NV boosted its holdings in shares of PTC Therapeutics by 36.4% in the 4th 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. Finally, Savant Capital LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at $210,000.

PTC Therapeutics Stock Down 8.6 %

Shares of NASDAQ PTCT opened at $46.60 on Wednesday. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38. The business has a 50 day moving average price of $51.21 and a two-hundred day moving average price of $45.46. The firm has a market cap of $3.68 billion, a PE ratio of -7.85 and a beta of 0.66.

Insider Transactions at PTC Therapeutics

In other news, Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 8,867 shares of the company’s stock, valued at approximately $478,818. The trade was a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the transaction, the vice president now owns 103,901 shares of the company’s stock, valued at $5,537,923.30. This trade represents a 13.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,112 shares of company stock valued at $1,799,047. 5.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on PTCT shares. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group lifted their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. 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 issued a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price 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.