AlphaQuest LLC Sells 21,277 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

AlphaQuest LLC reduced its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 95.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,082 shares of the biopharmaceutical company’s stock after selling 21,277 shares during the quarter. AlphaQuest LLC’s holdings in PTC Therapeutics were worth $49,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTCT. Smartleaf Asset Management LLC boosted its stake in shares of PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 270 shares during the period. Venturi Wealth Management LLC bought a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $68,000. R Squared Ltd bought a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $79,000. KBC Group NV boosted its stake in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares during the period. Finally, Savant Capital LLC bought a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $210,000.

Insider Transactions at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 15,521 shares of the business’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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was 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 in the company, valued at $478,818. This represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,391 shares of company stock valued at $2,172,927. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PTCT. Citigroup boosted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Scotiabank began coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on PTC Therapeutics from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, The Goldman Sachs Group boosted their price target on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $56.63 on Friday. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $58.38. The stock has a market capitalization of $4.47 billion, a P/E ratio of -9.53 and a beta of 0.66. The stock has a fifty day moving average of $49.52 and a 200-day moving average of $44.10.

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.