Choreo LLC Increases Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Choreo LLC increased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,961 shares of the biopharmaceutical company’s stock after buying an additional 240 shares during the quarter. Choreo LLC’s holdings in PTC Therapeutics were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in shares of PTC Therapeutics during the fourth quarter worth approximately $79,000. KBC Group NV raised its position in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares during the period. CWM LLC lifted its stake in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares during the last quarter. Finally, Nadler Financial Group Inc. purchased a new stake in PTC Therapeutics during the fourth quarter valued at about $223,000.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,291 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $58,533.94. Following the completion of the transaction, the chief accounting officer now owns 65,983 shares in the company, valued at approximately $2,991,669.22. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Pauwels sold 1,599 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $72,498.66. Following the transaction, the chief executive officer now directly owns 88,941 shares of the company’s stock, valued at $4,032,584.94. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 211,737 shares of company stock valued at $10,920,687 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Cantor Fitzgerald lifted their price target on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group increased their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

PTC Therapeutics Trading Down 2.4 %

NASDAQ:PTCT opened at $48.63 on Wednesday. The company has a 50-day moving average price of $46.39 and a 200-day moving average price of $40.51. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -8.19 and a beta of 0.62. PTC Therapeutics, Inc. has a 12 month low of $23.58 and a 12 month high of $54.16.

PTC Therapeutics 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.