PTC Therapeutics, Inc. (PTCT) Shares Bought by Orbimed Advisors LLC

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Orbimed Advisors LLC raised its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,519,700 shares of the biopharmaceutical company’s stock after acquiring an additional 244,700 shares during the quarter. Orbimed Advisors LLC’s holdings in PTC Therapeutics were worth $52,156,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. bought a new position in PTC Therapeutics in the third quarter valued at approximately $123,407,000. Vanguard Group Inc boosted its position in PTC Therapeutics by 39.4% in the third quarter. Vanguard Group Inc now owns 4,458,295 shares of the biopharmaceutical company’s stock valued at $209,539,000 after buying an additional 1,261,166 shares in the last quarter. Vanguard Group Inc. boosted its position in PTC Therapeutics by 39.4% in the third quarter. Vanguard Group Inc. now owns 4,458,295 shares of the biopharmaceutical company’s stock valued at $209,539,000 after buying an additional 1,261,166 shares in the last quarter. Sphera Funds Management LTD. acquired a new stake in PTC Therapeutics in the third quarter valued at approximately $9,870,000. Finally, BlackRock Inc. boosted its position in PTC Therapeutics by 5.4% in the third quarter. BlackRock Inc. now owns 3,639,709 shares of the biopharmaceutical company’s stock valued at $171,067,000 after buying an additional 187,548 shares in the last quarter. 83.84% of the stock is currently owned by hedge funds and other institutional investors.

In other PTC Therapeutics news, insider Christine Marie Utter sold 28,709 shares of PTC Therapeutics stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $34.97, for a total value of $1,003,953.73. Following the completion of the sale, the insider now directly owns 5,937 shares of the company’s stock, valued at $207,616.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stuart Walter Peltz sold 2,512 shares of PTC Therapeutics stock in a transaction on Monday, January 7th. The shares were sold at an average price of $34.75, for a total transaction of $87,292.00. Following the completion of the sale, the chief executive officer now directly owns 24,882 shares of the company’s stock, valued at $864,649.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,601 shares of company stock worth $1,104,451. 7.50% of the stock is owned by company insiders.

PTCT stock opened at $36.94 on Tuesday. The firm has a market capitalization of $2.15 billion, a P/E ratio of -20.08 and a beta of 2.07. The company has a current ratio of 1.92, a quick ratio of 1.83 and a debt-to-equity ratio of 0.40. PTC Therapeutics, Inc. has a 12-month low of $24.60 and a 12-month high of $52.95.

A number of equities analysts have recently commented on PTCT shares. Credit Suisse Group reiterated a “buy” rating and set a $55.00 price target 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. Cantor Fitzgerald reiterated a “buy” rating and set a $61.00 price target on shares of PTC Therapeutics in a report on Monday, January 7th. ValuEngine lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded shares of PTC Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 29th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $46.13.

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About PTC Therapeutics

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.

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

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