Wells Fargo & Company MN raised its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,148 shares of the biopharmaceutical company's stock after purchasing an additional 11,499 shares during the period. Wells Fargo & Company MN's holdings in PTC Therapeutics were worth $1,722,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in PTC Therapeutics by 78.7% in 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 in the last quarter. Venturi Wealth Management LLC bought a new stake in PTC Therapeutics in the 4th quarter worth approximately $68,000. R Squared Ltd bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $79,000. KBC Group NV boosted its stake 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 purchasing an additional 813 shares in the last quarter. Finally, Savant Capital LLC purchased a new position in PTC Therapeutics in the 4th quarter worth $210,000.
PTC Therapeutics Stock Performance
NASDAQ:PTCT traded up $0.13 during mid-day trading on Thursday, hitting $49.97. 109,534 shares of the company's stock traded hands, compared to its average volume of 799,714. The company has a market capitalization of $3.94 billion, a P/E ratio of -8.42 and a beta of 0.58. The company has a fifty day moving average of $50.02 and a 200 day moving average of $46.74. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on PTCT shares. Citigroup lifted their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research note on Wednesday, February 12th. Scotiabank started coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price objective on the stock. Morgan Stanley reiterated an "overweight" rating and set a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Cantor Fitzgerald boosted their price target on PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.92.
Get Our Latest Stock Analysis on PTC Therapeutics
Insider Buying and Selling at PTC Therapeutics
In other PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the transaction, the chief accounting officer now directly owns 63,442 shares of the company's stock, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now owns 8,867 shares in the company, valued at approximately $478,818. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,305 shares of company stock worth $1,682,755. 5.50% of the stock is currently owned by insiders.
About PTC Therapeutics
(
Free Report)
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.
Further Reading
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