MPM Bioimpact LLC Acquires 345,052 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

MPM Bioimpact LLC boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 384.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 434,767 shares of the biopharmaceutical company’s stock after purchasing an additional 345,052 shares during the quarter. PTC Therapeutics comprises approximately 2.8% of MPM Bioimpact LLC’s portfolio, making the stock its 12th largest holding. MPM Bioimpact LLC’s holdings in PTC Therapeutics were worth $19,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of PTC Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock worth $414,332,000 after acquiring an additional 53,688 shares during the period. Janus Henderson Group PLC grew its position in PTC Therapeutics by 24.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after acquiring an additional 455,698 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of PTC Therapeutics by 34.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company’s stock valued at $48,652,000 after buying an additional 273,638 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at about $46,993,000. Finally, Pictet Asset Management Holding SA grew its position in shares of 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 valued at $33,241,000 after buying an additional 381,319 shares during the last quarter.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the transaction, the chief accounting officer now owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total transaction of $827,269.30. Following the transaction, the vice president now owns 103,901 shares in the company, valued at $5,537,923.30. The trade was a 13.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,305 shares of company stock valued at $1,682,755 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Up 0.8%

NASDAQ:PTCT opened at $46.39 on Wednesday. The company has a fifty day simple moving average of $48.74 and a two-hundred day simple moving average of $47.10. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -7.81 and a beta of 0.52. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. During the same quarter last year, the company posted ($1.20) EPS. PTC Therapeutics’s quarterly revenue was down 9.6% on a year-over-year basis. On average, analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on PTCT shares. Robert W. Baird decreased their target price on PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. StockNews.com upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Bank of America raised PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $68.00 in a research report on Friday, May 9th. Barclays reduced their price target on PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Finally, Scotiabank initiated coverage on PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.92.

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.