Headlands Technologies LLC Has $326,000 Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Headlands Technologies LLC increased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 843.6% in the 4th quarter, Holdings Channel reports. The fund owned 7,228 shares of the biopharmaceutical company’s stock after purchasing an additional 6,462 shares during the period. Headlands Technologies LLC’s holdings in PTC Therapeutics were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its position in shares of 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 in the last quarter. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the 4th quarter worth approximately $68,000. R Squared Ltd acquired a new stake in shares of PTC Therapeutics during the 4th quarter valued at $79,000. KBC Group NV grew its holdings in shares of PTC Therapeutics by 36.4% during 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 in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of PTC Therapeutics in the fourth quarter worth $210,000.

PTC Therapeutics Stock Down 7.5 %

Shares of NASDAQ PTCT opened at $43.24 on Friday. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $58.38. The company has a market cap of $3.41 billion, a P/E ratio of -7.28 and a beta of 0.58. The business’s 50 day moving average is $51.22 and its two-hundred day moving average is $45.56.

Analysts Set New Price Targets

A number of analysts recently issued reports on PTCT shares. Scotiabank began coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price objective for the company. Citigroup raised their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald lifted their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, 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 research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, five 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, the company presently has an average rating of “Moderate Buy” and an average target price of $63.77.

Insider Buying and Selling

In related news, CEO Eric Pauwels sold 1,599 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $72,498.66. Following the transaction, the chief executive officer now directly owns 88,941 shares in the company, valued at $4,032,584.94. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Scott Golden sold 897 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the completion of the transaction, the executive vice president now directly owns 75,997 shares of the company’s stock, valued at approximately $3,568,059.15. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,009 shares of company stock valued at $1,841,161. 5.50% of the stock is owned by company insiders.

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.