Inspire Investing LLC decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT – Free Report) by 5.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,545 shares of the biopharmaceutical company’s stock after selling 669 shares during the period. Inspire Investing LLC’s holdings in PTC Therapeutics were worth $353,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTCT. Wellington Management Group LLP raised its position in shares of PTC Therapeutics by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after buying an additional 380,415 shares during the last quarter. Vanguard Group Inc. raised its holdings in PTC Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock valued at $272,545,000 after acquiring an additional 568,171 shares during the last quarter. RTW Investments LP lifted its stake in shares of PTC Therapeutics by 2.6% during the 4th quarter. RTW Investments LP now owns 7,423,970 shares of the biopharmaceutical company’s stock worth $204,605,000 after purchasing an additional 188,774 shares during the period. Armistice Capital LLC boosted its holdings in shares of PTC Therapeutics by 11.6% during the fourth quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock worth $189,172,000 after purchasing an additional 714,000 shares during the last quarter. Finally, Cowen AND Company LLC grew its position in shares of PTC Therapeutics by 0.8% in the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock valued at $114,873,000 after purchasing an additional 30,843 shares during the period.
PTC Therapeutics Stock Performance
PTC Therapeutics stock opened at $36.64 on Monday. The firm has a market capitalization of $2.81 billion, a PE ratio of -4.77 and a beta of 0.64. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $40.69. The stock’s 50 day moving average price is $33.41 and its 200 day moving average price is $32.44.
Insiders Place Their Bets
In other news, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the completion of the sale, the chief financial officer now directly owns 53,531 shares in the company, valued at $1,821,124.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
PTCT has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $53.00 target price on shares of PTC Therapeutics in a research report on Thursday, June 20th. UBS Group assumed coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of PTC Therapeutics from $18.00 to $32.00 and gave the stock a “sell” rating in a research report on Tuesday, May 28th. Morgan Stanley lifted their price target on shares of PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.64.
Check Out Our Latest Research Report on PTC Therapeutics
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.
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