Stephen DuBois‘ Camber Capital Management recently filed a Form 13G with the SEC, in which it reported raising its stake in Ptc Therapeutics Inc. (NASDAQ:PTCT) to 2 million common shares, which represent 5.84% of the float. The fund’s stake was raised from 1.5 million shares, which it reported holding at the end of June as per its 13F filing for the reporting period of June 30.
PTC Therapeutics is a biopharmaceutical company engaged in the production of small molecule therapeutics to treat orphan diseases. Over the past 12 months, the company’s stock has lost 60.53%. In its financial report for the second quarter of 2016, PTC Therapeutics disclosed a loss per share of $1.14 and revenue of $15.63 million, compared to a loss per share of $1.14 and revenue of $6.77 million for the second quarter of 2015. Earlier this month, Jefferies Group reiterated its ‘Hold’ rating on Ptc Therapeutics Inc. (NASDAQ:PTCT)’s stock, along with a price target of $7.
Out of the 749 hedge funds followed by Insider Monkey which filed 13Fs for the June quarter, 13 were long Ptc Therapeutics Inc. (NASDAQ:PTCT) at the end of June, up from 12 a quarter earlier. Among the bullish investors were Jerome Pfund and Michael Sjostrom’s Sectoral Asset Management, with a position valued at $4.56 million, Phill Gross and Robert Atchinson’s Adage Capital Management, which held a position worth around $2.46 million, Jim Simons’ Renaissance Technologies, and Ken Fisher’s Fisher Asset Management.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Camber Capital Management||0||2,000,000||0||2,000,000||Camber Capital Management LLC 5.84%|
|Stephen DuBois Not applicable||0||2,000,000||0||2,000,000||Stephen DuBois 5.84%|
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