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Ptc Therapeutics Inc. (PTCT): Camber Capital Management Adds 500,000 Shares to Its Position

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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.

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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.

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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%

Stephen Dubois
Stephen Dubois
Camber Capital Management

Page 1 of 6 – SEC Filing

 
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13G
 
Under the Securities Exchange Act of
1934
 
 
PTC Therapeutics,
Inc.
(Name of
Issuer)
 
Common Stock, par value 0.001 per
share
(Title of Class of
Securities)
 
69366J200
(CUSIP
Number)
 
 
September 19, 2016
(Date of Event
Which Requires Filing of this Statement)
 
 
Check the
appropriate box to designate the rule pursuant to which this
Schedule is filed:
☐ Rule
13d-1(b)

 Rule
13d-1(c)
☐ Rule
13d-1(d)
 
*The remainder of
this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover
page.
 
The information
required in the remainder of this cover page shall not be deemed to
be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise
subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the
Notes).
 
Persons who respond to the collection of
information contained in this form are not
required to respond unless the form displays a currently valid OMB
control number.
 

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