Xponance Inc. Grows Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Xponance Inc. raised its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 10.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC).

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

PTC Therapeutics Stock Performance

Shares of PTCT opened at $54.99 on Friday. The stock has a market capitalization of $4.34 billion, a PE ratio of -9.26 and a beta of 0.66. The company has a 50 day moving average price of $50.83 and a 200-day moving average price of $44.90. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 1,543 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $69,959.62. Following the sale, the vice president now directly owns 108,846 shares in the company, valued at approximately $4,935,077.64. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction that occurred 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 trade represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,391 shares of company stock worth $2,172,927 over the last 90 days. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Robert W. Baird upped their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Royal Bank of Canada raised their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. 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 report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned 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, the company presently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.