Allspring Global Investments Holdings LLC Invests $524,000 in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Allspring Global Investments Holdings LLC acquired a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,287 shares of the biopharmaceutical company's stock, valued at approximately $524,000.

Other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position 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 worth $28,000 after acquiring an additional 270 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 441 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth $77,000.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 1,929 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $89,081.22. Following the transaction, the vice president directly owned 103,901 shares of the company's stock, valued at approximately $4,798,148.18. This trade represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew B. Klein sold 2,804 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total value of $136,666.96. Following the transaction, the chief executive officer directly owned 273,234 shares in the company, valued at $13,317,425.16. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,616 shares of company stock worth $266,384. 5.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PTCT shares. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird decreased their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Citigroup raised shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $50.00 to $40.00 in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $68.00 to $74.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $65.00.

PTC Therapeutics Stock Performance

PTCT traded up $0.91 during trading on Monday, reaching $49.46. The stock had a trading volume of 1,606,535 shares, compared to its average volume of 876,960. The stock has a market cap of $3.92 billion, a PE ratio of 7.60 and a beta of 0.50. PTC Therapeutics, Inc. has a one year low of $29.02 and a one year high of $58.38. The business has a 50-day moving average of $48.09 and a 200-day moving average of $48.42.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $437.16 million. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The firm's revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.20) earnings per share. Equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

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.