Nebula Research & Development LLC Buys New Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Nebula Research & Development LLC bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,492 shares of the biopharmaceutical company's stock, valued at approximately $428,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in PTC Therapeutics by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after acquiring an additional 53,688 shares during the last quarter. Pictet Asset Management Holding SA raised its position in PTC Therapeutics by 107.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock worth $33,241,000 after purchasing an additional 381,319 shares during the period. Renaissance Technologies LLC boosted its position in PTC Therapeutics by 21.3% during the fourth quarter. Renaissance Technologies LLC now owns 653,100 shares of the biopharmaceutical company's stock valued at $29,481,000 after buying an additional 114,900 shares during the period. Alliancebernstein L.P. lifted its stake in shares of PTC Therapeutics by 62.9% in the 4th quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock valued at $16,325,000 after acquiring an additional 139,596 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of PTC Therapeutics by 43.8% during the fourth quarter. Trexquant Investment LP now owns 313,417 shares of the biopharmaceutical company's stock valued at $14,148,000 after purchasing an additional 95,418 shares during the period.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded down $8.64 during midday trading on Monday, reaching $41.32. 2,059,823 shares of the stock traded hands, compared to its average volume of 900,620. The company's 50 day moving average is $50.00 and its 200 day moving average is $47.04. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38. The stock has a market capitalization of $3.26 billion, a PE ratio of -6.96 and a beta of 0.52.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 2,804 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer now owns 273,234 shares in the company, valued at $13,317,425.16. The trade was a 1.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 15,521 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the transaction, the vice president now directly owns 103,901 shares in the company, valued at $5,537,923.30. This represents a 13.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,305 shares of company stock worth $1,682,755 in the last three months. Insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of recent analyst reports. Bank of America raised PTC Therapeutics from an "underperform" rating to a "neutral" rating and upped their price target for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. Cantor Fitzgerald boosted their target price on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $65.00 price target on shares of PTC Therapeutics in a research report on Tuesday, April 22nd. Citigroup increased their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lowered their price target on PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.92.

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.