Nebula Research & Development LLC Acquires Shares of 9,492 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Nebula Research & Development LLC bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, Holdings Channel reports. The firm bought 9,492 shares of the biopharmaceutical company’s stock, valued at approximately $428,000.

A number of other institutional investors have also modified their holdings of the stock. Arizona State Retirement System increased its stake in PTC Therapeutics by 1.1% in the 4th 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% during the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock worth $541,000 after acquiring an additional 240 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of PTC Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 253 shares during the period. Smartleaf Asset Management LLC raised its holdings in PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in PTC Therapeutics by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 455 shares during the period.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $49.52 on Wednesday. The business’s fifty day moving average price is $50.04 and its two-hundred day moving average price is $46.72. The stock has a market cap of $3.91 billion, a PE ratio of -8.34 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.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics 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 value of $136,666.96. Following the completion of the transaction, the chief executive officer now directly owns 273,234 shares in the company, valued at approximately $13,317,425.16. The trade was a 1.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark Elliott Boulding sold 15,521 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the sale, the vice president now owns 103,901 shares in the company, valued at $5,537,923.30. This trade 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 valued at $1,682,755 over the last quarter. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of analyst reports. Scotiabank began coverage on PTC Therapeutics in a research note on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price for the company. JPMorgan Chase & Co. cut their price objective on PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. 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. Cantor Fitzgerald increased their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.92.

About PTC Therapeutics

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.