Federated Hermes Inc. Invests $2.16 Million in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Federated Hermes Inc. bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,828 shares of the biopharmaceutical company’s stock, valued at approximately $2,159,000. Federated Hermes Inc. owned approximately 0.06% of PTC Therapeutics at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of PTC Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock worth $907,000 after buying an additional 219 shares during the period. Choreo LLC increased its stake in PTC Therapeutics by 2.0% in the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock valued at $541,000 after purchasing an additional 240 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 270 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of PTC Therapeutics by 8.3% during 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 in the last quarter. Finally, Xponance Inc. grew its stake in shares of PTC Therapeutics by 10.4% in the 4th quarter. Xponance Inc. now owns 6,058 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 570 shares during the period.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $42.98 on Monday. The company’s 50 day simple moving average is $50.48 and its two-hundred day simple moving average is $45.88. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The stock has a market capitalization of $3.39 billion, a PE ratio of -7.24 and a beta of 0.58.

Insider Transactions at PTC Therapeutics

In related news, EVP Lee Scott Golden sold 897 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total transaction of $42,114.15. Following the completion of the transaction, the executive vice president now directly owns 75,997 shares in the company, valued at $3,568,059.15. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christine Marie Utter sold 879 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the sale, the chief accounting officer now directly 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. Over the last quarter, insiders have sold 29,501 shares of company stock valued at $1,546,088. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PTCT. Scotiabank assumed coverage on PTC Therapeutics in a research note on Friday, March 7th. They set a “sector perform” rating and a $55.00 price target on the stock. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. JPMorgan Chase & Co. decreased their price objective on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Finally, Citigroup lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.77.

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.