Xponance Inc. Purchases 570 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Xponance Inc. lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,058 shares of the biopharmaceutical company’s stock after acquiring an additional 570 shares during the period. Xponance Inc.’s holdings in PTC Therapeutics were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at $68,000. R Squared Ltd bought a new stake in PTC Therapeutics in the 4th quarter worth about $79,000. KBC Group NV raised its position in PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 813 shares during the last quarter. Finally, Savant Capital LLC bought a new position in PTC Therapeutics during the 4th quarter valued at about $210,000.

Insider Buying and Selling

In other news, Director Allan Steven Jacobson sold 1,230 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the transaction, the director now owns 19,118 shares of the company’s stock, valued at approximately $984,959.36. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the transaction, the director now owns 8,867 shares of the company’s stock, valued at approximately $478,818. This represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,391 shares of company stock worth $2,172,927. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on PTCT shares. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Citigroup increased their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Scotiabank began coverage on PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. Finally, Barclays boosted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $54.99 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38. The company has a market capitalization of $4.34 billion, a P/E ratio of -9.26 and a beta of 0.66. The company has a fifty day moving average of $50.83 and a 200 day moving average of $44.90.

About PTC Therapeutics

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.