PTC Therapeutics, Inc. (NASDAQ:PTCT) Stake Lifted by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 78.7% in the 4th quarter, HoldingsChannel reports. The fund owned 613 shares of the biopharmaceutical company’s stock after acquiring an additional 270 shares during the period. Smartleaf Asset Management LLC’s holdings in PTC Therapeutics were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PTCT. Venturi Wealth Management LLC acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $68,000. R Squared Ltd acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $79,000. KBC Group NV lifted its stake 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. Savant Capital LLC acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $210,000. Finally, Nadler Financial Group Inc. acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $223,000.

Insiders Place Their Bets

In other news, Director Allan Steven Jacobson sold 1,230 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total transaction of $63,369.60. Following the transaction, the director now owns 19,118 shares in the company, valued at $984,959.36. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christine Marie Utter sold 879 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $44,037.90. Following the transaction, the chief accounting officer now owns 63,442 shares in the company, valued at approximately $3,178,444.20. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,870 shares of company stock worth $1,075,657 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Citigroup upped their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their price target for the company from $41.00 to $55.00 in a research report on Tuesday. Barclays upped their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, UBS Group upped their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $63.54.

PTC Therapeutics Stock Up 1.9 %

PTCT stock opened at $53.61 on Thursday. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $55.60. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -9.03 and a beta of 0.66. The company has a 50 day moving average of $48.31 and a two-hundred day moving average of $43.31.

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.