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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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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Page 1 of 6 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of
1934
1934
PTC Therapeutics,
Inc.
Inc.
(Name of
Issuer)
Issuer)
Common Stock, par value 0.001 per
share
share
(Title of Class of
Securities)
Securities)
69366J200
(CUSIP
Number)
Number)
September 19, 2016
(Date of Event
Which Requires Filing of this Statement)
Which Requires Filing of this Statement)
Check the
appropriate box to designate the rule pursuant to which this
Schedule is filed:
appropriate box to designate the rule pursuant to which this
Schedule is filed:
☐ Rule
13d-1(b)
13d-1(b)
☒
Rule
13d-1(c)
Rule
13d-1(c)
☐ Rule
13d-1(d)
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.
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).
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.
information contained in this form are not
required to respond unless the form displays a currently valid OMB
control number.
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Page 2 of 6 – SEC Filing
13G
CUSIP No.
69366J200
69366J200
Page 2 of
6
6
| 1. Names of Reporting Persons. Camber Capital Management LLC 42-1693587 | |
| 2. Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☐ | |
| 3. SEC Use Only | |
| 4. Citizenship or Place of Organization Massachusetts | |
| Number of Shares Beneficially Owned by Each Reporting Person With: | 5. Sole Voting Power 0 shares |
| 6. Shared Voting Power 2,000,000 shares | |
| 7. Sole Dispositive Power 0 shares | |
| 8. Shared Dispositive Power 2,000,000 shares | |
| 9. Aggregate Amount Beneficially Owned by Each Reporting Person Camber Capital Management LLC – 2,000,000 shares | |
| 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ☐ | |
| 11. Percent of Class Represented by Amount in Row (9) Camber Capital Management LLC – 5.84% | |
| 12. Type of Reporting Person Camber Capital Management LLC – 00 (Limited Liability Company) | |
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Page 3 of 6 – SEC Filing
13G
CUSIP No.
69366J200
69366J200
Page 3 of
6
6
| 1. Names of Reporting Persons. Stephen DuBois Not applicable | |
| 2. Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☐ | |
| 3. SEC Use Only | |
| 4. Citizenship or Place of Organization Stephen DuBois – United States | |
| Number of Shares Beneficially Owned by Each Reporting Person With: | 5. Sole Voting Power 0 shares |
| 6. Shared Voting Power 2,000,000 shares | |
| 7. Sole Dispositive Power 0 shares | |
| 8. Shared Dispositive Power 2,000,000 shares | |
| 9. Aggregate Amount Beneficially Owned by Each Reporting Person Stephen DuBois – 2,000,000 shares | |
| 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ☐ | |
| 11. Percent of Class Represented by Amount in Row (9) Stephen DuBois – 5.84% | |
| 12. Type of Reporting Person Stephen DuBois – IN | |
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Page 4 of 6 – SEC Filing
13G
CUSIP No.
69366J200
69366J200
Page 4 of
6
6
| |
ITEM 1.
(a) Name of
Issuer:
Issuer:
PTC Therapeutics,
Inc.
Inc.
(b) Address of
Issuer’s Principal Executive Offices:
Issuer’s Principal Executive Offices:
100 Corporate
Court, South Plainfield, NJ 07080
Court, South Plainfield, NJ 07080
ITEM 2.
(a) Name of Person
Filing:
Filing:
Camber Capital
Management LLC
Management LLC
Stephen
DuBois
DuBois
(b) Address of
Principal Business Office, or if None, Residence:
Principal Business Office, or if None, Residence:
Camber Capital
Management LLC
Management LLC
Stephen
DuBois
DuBois
101 Huntington
Avenue
Avenue
Suite
2101
2101
Boston, MA
02199
02199
(c)
Citizenship:
Citizenship:
Camber Capital
Management LLC –
Massachusetts
Management LLC –
Massachusetts
Stephen
DuBois – United
States
DuBois – United
States
(d) Title of Class
of Securities:
of Securities:
Common Stock, par
value. $0.001 per share
value. $0.001 per share
(e) CUSIP
Number:
Number:
69366J200
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO
SS.240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON
FILING IS A:
SS.240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON
FILING IS A:
| | (a) | [_] | Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). |
| | (b) | [_] | Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). |
| | (c) | [_] | Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). |
| | (d) | [_] | Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
| | (e) | [_] | An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); |
| | (f) | [_] | An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); |
| | (g) | [_] | A parent holding company or control person in accordance with ss.240.13d-1(b)(1)(ii)(G); |
| | (h) | [_] | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
| | (i) | [_] | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
| | (j) | [_] | Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). |
ITEM 4. OWNERSHIP.
Provide the
following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item
1.
following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item
1.
(a) Amount
beneficially owned: Camber Capital Management LLC –
2,000,000
shares
beneficially owned: Camber Capital Management LLC –
2,000,000
shares
Stephen DuBois
– 2,000,000
shares
– 2,000,000
shares
(b) Percent of
class: Camber Capital Management LLC –
5.84%
class: Camber Capital Management LLC –
5.84%
Stephen DuBois
– 5.84%
– 5.84%
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Page 5 of 6 – SEC Filing
13G
CUSIP No.
69366J200
69366J200
Page 5 of
6
6
| |
(c) Number of
shares as to which such person has:
shares as to which such person has:
(i) Sole power to
vote or to direct the vote
vote or to direct the vote
Camber Capital
Management LLC – 0 shares
Management LLC – 0 shares
Stephen DuBois
– 0 shares
– 0 shares
(ii) Shared power
to vote or to direct the vote
to vote or to direct the vote
Camber Capital
Management LLC – 2,000,000
shares
Management LLC – 2,000,000
shares
Stephen DuBois
– 2,000,000
shares
– 2,000,000
shares
(iii) Sole power to
dispose or to direct the disposition of
dispose or to direct the disposition of
Camber Capital
Management LLC – 0 shares
Management LLC – 0 shares
Stephen DuBois
– 0 shares
– 0 shares
(iv) Shared power
to dispose or to direct the disposition of
to dispose or to direct the disposition of
Camber Capital
Management LLC – 2,000,000
shares
Management LLC – 2,000,000
shares
Stephen DuBois
– 2,000,000
shares
– 2,000,000
shares
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A
CLASS.
CLASS.
If this statement
is being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [
].
is being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [
].
INSTRUCTION:
Dissolution of a group requires a response to this
item.
Dissolution of a group requires a response to this
item.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON
BEHALF OF ANOTHER PERSON.
BEHALF OF ANOTHER PERSON.
If any other person
is known to have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in
response to this item and, if such interest relates to more than
five percent of the class, such person should be identified. A
listing of the shareholders of an investment company registered
under the Investment Company Act of 1940 or the beneficiaries of
employee benefit plan, pension fund or endowment fund is not
required.
is known to have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in
response to this item and, if such interest relates to more than
five percent of the class, such person should be identified. A
listing of the shareholders of an investment company registered
under the Investment Company Act of 1940 or the beneficiaries of
employee benefit plan, pension fund or endowment fund is not
required.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF
THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
If a parent holding
company or Control person has filed this schedule, pursuant to Rule
13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the
relevant subsidiary. If a parent holding company or control person
has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d),
attach an exhibit stating the identification of the relevant
subsidiary.
company or Control person has filed this schedule, pursuant to Rule
13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the
relevant subsidiary. If a parent holding company or control person
has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d),
attach an exhibit stating the identification of the relevant
subsidiary.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF
MEMBERS OF THE GROUP.
MEMBERS OF THE GROUP.
If a group has
filed this schedule pursuant to ss.240.13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity
and Item 3 classification of each member of the group. If a group
has filed this schedule pursuant to ss.240.13d-1(c) or
ss.240.13d-1(d), attach an exhibit stating the identity of each
member of the group.
filed this schedule pursuant to ss.240.13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity
and Item 3 classification of each member of the group. If a group
has filed this schedule pursuant to ss.240.13d-1(c) or
ss.240.13d-1(d), attach an exhibit stating the identity of each
member of the group.
ITEM 9. NOTICE OF DISSOLUTION OF
GROUP.
GROUP.
Notice of
dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect
to transactions in the security reported on will be filed, if
required, by members of the group, in their individual capacity.
See Item 5.
dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect
to transactions in the security reported on will be filed, if
required, by members of the group, in their individual capacity.
See Item 5.
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Page 6 of 6 – SEC Filing
13G
CUSIP No.
69366J200
69366J200
Page 6 of
6
6
| |
ITEM 10. CERTIFICATIONS.
The following
certification shall be included if the statement is filed pursuant
to S.240.13d-1(c):
certification shall be included if the statement is filed pursuant
to S.240.13d-1(c):
By signing below I
certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any
transaction having such purpose or effect.
certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any
transaction having such purpose or effect.
SIGNATURE
After reasonable
inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
CAMBER CAPITAL
MANAGEMENT LLC
MANAGEMENT LLC
By: /s/Sean
George
George
Sean
George
George
Chief Financial
Officer
Officer
STEPHEN
DUBOIS
DUBOIS
By: /s/ Stephen
DuBois
DuBois
Stephen DuBois,
individually
individually
The original
statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the
statement is signed on behalf of a person by his authorized
representative other than an executive officer or general partner
of the filing person, evidence of the representative’s authority to
sign on behalf of such person shall be filed with the statement,
provided, however, that a power of attorney for this purpose which
is already on file with the Commission may be incorporated by
reference. The name and any title of each person who signs the
statement shall be typed or printed beneath his
signature.
statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the
statement is signed on behalf of a person by his authorized
representative other than an executive officer or general partner
of the filing person, evidence of the representative’s authority to
sign on behalf of such person shall be filed with the statement,
provided, however, that a power of attorney for this purpose which
is already on file with the Commission may be incorporated by
reference. The name and any title of each person who signs the
statement shall be typed or printed beneath his
signature.
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