5,091 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, Holdings Channel reports. The firm purchased 5,091 shares of the biopharmaceutical company’s stock, valued at approximately $230,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Choreo LLC lifted its position in PTC Therapeutics by 2.0% in the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock worth $541,000 after buying an additional 240 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 455 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the last quarter. KBC Group NV boosted its holdings in shares of PTC Therapeutics by 29.2% during the third 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. Finally, Creative Planning grew its position in shares of PTC Therapeutics by 8.1% in the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 816 shares during the last quarter.

Wall Street Analyst Weigh In

PTCT has been the subject of several research reports. UBS Group raised their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Citigroup boosted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada lifted their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $59.62.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the completion of the sale, the vice president now directly owns 92,389 shares of the company’s stock, valued at $4,828,249.14. This trade represents a 48.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $44,037.90. Following the sale, the chief accounting officer now owns 63,442 shares in the company, valued at approximately $3,178,444.20. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,590 shares of company stock worth $11,264,023 over the last three months. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Trading Up 9.3 %

Shares of NASDAQ:PTCT opened at $55.26 on Friday. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $55.41. The company has a market cap of $4.26 billion, a PE ratio of -9.30 and a beta of 0.62. The stock has a 50 day moving average of $46.98 and a 200 day moving average of $42.01.

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.