MetLife Investment Management LLC Purchases 2,581 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

MetLife Investment Management LLC lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 5.9% during the 4th quarter, HoldingsChannel reports. The firm owned 46,588 shares of the biopharmaceutical company’s stock after acquiring an additional 2,581 shares during the period. MetLife Investment Management LLC’s holdings in PTC Therapeutics were worth $2,103,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $521,000. Raymond James Financial Inc. bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $2,200,000. Natixis Advisors LLC bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $544,000. Proficio Capital Partners LLC bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $758,000. Finally, American Century Companies Inc. boosted its holdings in PTC Therapeutics by 66.8% in the fourth quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company’s stock worth $2,715,000 after acquiring an additional 24,090 shares in the last quarter.

Insider Activity at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 15,521 shares of the company’s stock in a transaction on 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 sale, the vice president now owns 103,901 shares in the company, valued at approximately $5,537,923.30. This represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were 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 trade represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,305 shares of company stock worth $1,682,755. 5.50% of the stock is owned by insiders.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $49.76 on Tuesday. The stock has a market cap of $3.92 billion, a PE ratio of -8.38 and a beta of 0.58. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38. The stock has a fifty day moving average of $50.06 and a 200 day moving average of $46.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $41.00 to $55.00 in a report on Tuesday, March 11th. Scotiabank assumed coverage on PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of PTC Therapeutics in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.