Aigen Investment Management LP Purchases New Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Aigen Investment Management LP purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,896 shares of the biopharmaceutical company’s stock, valued at approximately $402,000.

Several other institutional investors have also added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC lifted 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 valued at $28,000 after purchasing an additional 270 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics during the fourth quarter valued at about $68,000. R Squared Ltd purchased a new stake in PTC Therapeutics during the fourth quarter valued at about $79,000. KBC Group NV lifted its holdings in PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in PTC Therapeutics during the fourth quarter valued at about $210,000.

PTC Therapeutics Price Performance

Shares of PTCT opened at $52.59 on Friday. The firm’s 50 day simple moving average is $47.85 and its 200 day simple moving average is $42.85. The company has a market capitalization of $4.06 billion, a P/E ratio of -8.85 and a beta of 0.62. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $55.60.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total transaction of $373,879.64. Following the transaction, the chief executive officer now directly owns 217,528 shares in the company, valued at $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 1,543 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $69,959.62. Following the transaction, the vice president now owns 108,846 shares in the company, valued at $4,935,077.64. The trade was a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,870 shares of company stock valued at $1,075,657 over the last three months. 5.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group upped their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a report on Friday. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Scotiabank assumed coverage on shares of PTC Therapeutics in a report on Friday. They issued a “sector perform” rating and a $55.00 price target on the stock. Finally, Robert W. Baird increased their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics has an average rating of “Hold” and a consensus target price of $61.77.

PTC Therapeutics Company 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.