venBio Select Advisor LLC Has $13.04 Million Position in PTC Therapeutics, Inc. (PTCT)

venBio Select Advisor LLC cut its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 44.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,000 shares of the biopharmaceutical company’s stock after selling 304,000 shares during the quarter. PTC Therapeutics accounts for about 0.8% of venBio Select Advisor LLC’s investment portfolio, making the stock its 23rd largest holding. venBio Select Advisor LLC owned approximately 0.66% of PTC Therapeutics worth $13,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. NumerixS Investment Technologies Inc purchased a new stake in PTC Therapeutics during the 4th quarter valued at about $32,000. Canton Hathaway LLC boosted its holdings in PTC Therapeutics by 57.1% during the 4th quarter. Canton Hathaway LLC now owns 1,100 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 400 shares during the period. Rehmann Capital Advisory Group purchased a new stake in PTC Therapeutics in the 3rd quarter worth approximately $59,000. Quantbot Technologies LP lifted its holdings in PTC Therapeutics by 871.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,729 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 2,448 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PTC Therapeutics by 34.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,732 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 696 shares during the period. Institutional investors own 85.56% of the company’s stock.

In other news, Director Michael Schmertzler bought 66,225 shares of the firm’s stock in a transaction dated Friday, January 25th. The stock was purchased at an average price of $30.20 per share, with a total value of $1,999,995.00. Following the transaction, the director now owns 86,766 shares of the company’s stock, valued at $2,620,333.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christine Marie Utter sold 28,709 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $34.97, for a total value of $1,003,953.73. Following the completion of the transaction, the insider now directly owns 5,937 shares of the company’s stock, valued at approximately $207,616.89. The disclosure for this sale can be found here. Insiders sold a total of 31,601 shares of company stock valued at $1,104,451 in the last three months. Corporate insiders own 7.50% of the company’s stock.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded PTC Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 9th. Cantor Fitzgerald reiterated a “buy” rating and issued a $61.00 price objective on shares of PTC Therapeutics in a report on Thursday, February 28th. Credit Suisse Group reiterated a “buy” rating and issued a $55.00 price objective on shares of PTC Therapeutics in a report on Monday, January 7th. William Blair reiterated a “buy” rating on shares of PTC Therapeutics in a report on Monday, January 7th. Finally, ValuEngine cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. PTC Therapeutics presently has a consensus rating of “Buy” and an average target price of $46.13.

NASDAQ PTCT traded up $0.57 on Friday, hitting $35.80. The company’s stock had a trading volume of 7,829 shares, compared to its average volume of 900,256. PTC Therapeutics, Inc. has a 52-week low of $24.60 and a 52-week high of $52.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.83 and a current ratio of 1.92. The stock has a market cap of $2.05 billion, a P/E ratio of -19.45 and a beta of 2.07.

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PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.

Further Reading: SEC Filing

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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