Quantinno Capital Management LP Takes Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Quantinno Capital Management LP acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,656 shares of the biopharmaceutical company's stock, valued at approximately $436,000.

Other institutional investors have also recently made changes to their positions in the company. 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. Sterling Capital Management LLC raised its holdings 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 valued at $29,000 after purchasing an additional 522 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at about $68,000. R Squared Ltd acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at about $79,000. Finally, KBC Group NV raised its holdings in shares of PTC Therapeutics by 36.4% during the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock valued at $137,000 after purchasing an additional 813 shares during the period.

Insider Activity

In other news, Director Stephanie Okey sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the transaction, the director now directly owns 8,867 shares of the company's stock, valued at $478,818. This represents a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the sale, the vice president now owns 103,901 shares in the company, valued at $5,537,923.30. This represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,264 shares of company stock valued at $1,469,137 in the last three months. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Up 3.1%

PTCT stock traded up $1.48 during trading on Thursday, reaching $48.76. The stock had a trading volume of 298,299 shares, compared to its average volume of 858,780. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38. The company's 50 day moving average is $46.80 and its two-hundred day moving average is $47.43. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -8.21 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the previous year, the company posted ($1.20) earnings per share. The company's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Citigroup upgraded shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $50.00 to $40.00 in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald decreased their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Bank of America raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $68.00 in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.75.

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.