GAMMA Investing LLC Purchases 48,003 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

GAMMA Investing LLC lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 9,393.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,514 shares of the biopharmaceutical company's stock after purchasing an additional 48,003 shares during the quarter. GAMMA Investing LLC owned about 0.06% of PTC Therapeutics worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its stake 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. Sterling Capital Management LLC grew its stake in PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 522 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the 4th quarter worth approximately $68,000. GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics in the fourth quarter valued at about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $77,000.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 2,804 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total transaction of $136,666.96. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Scott Golden sold 897 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total transaction of $42,114.15. Following the sale, the executive vice president now owns 75,997 shares in the company, valued at approximately $3,568,059.15. This trade represents a 1.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,513 shares of company stock valued at $308,498. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Stock Up 0.5%

PTC Therapeutics stock traded up $0.28 during trading hours on Friday, reaching $51.26. 750,739 shares of the company's stock were exchanged, compared to its average volume of 867,779. The firm has a market capitalization of $4.06 billion, a PE ratio of -8.63 and a beta of 0.51. The firm's 50 day simple moving average is $46.81 and its 200 day simple moving average is $48.06. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. The firm's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the business posted ($1.20) earnings per share. Analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PTCT shares. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price objective for the company. Citigroup upgraded shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their target price for the company from $50.00 to $40.00 in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Cantor Fitzgerald reduced their target price on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Bank of America raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $68.00 in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.75.

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.