Choreo LLC Acquires 240 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Choreo LLC lifted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,961 shares of the biopharmaceutical company’s stock after purchasing an additional 240 shares during the period. Choreo LLC’s holdings in PTC Therapeutics were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning increased its holdings in PTC Therapeutics by 19.0% during the second quarter. Creative Planning now owns 10,128 shares of the biopharmaceutical company’s stock worth $310,000 after buying an additional 1,619 shares during the last quarter. CWM LLC grew its position in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 2,096 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of PTC Therapeutics by 32.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock worth $18,270,000 after purchasing an additional 119,637 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in PTC Therapeutics by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock valued at $549,000 after purchasing an additional 5,783 shares during the last quarter.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald boosted their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $48.63 on Wednesday. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -8.19 and a beta of 0.62. PTC Therapeutics, Inc. has a one year low of $23.58 and a one year high of $54.16. The firm has a fifty day moving average price of $46.39 and a two-hundred day moving average price of $40.51.

Insiders Place Their Bets

In related news, CEO Matthew B. Klein sold 8,279 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the transaction, the chief executive officer now directly owns 217,528 shares in the company, valued at approximately $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the sale, the vice president now owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. The trade was a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,737 shares of company stock worth $10,920,687 in the last ninety days. 5.50% of the stock is currently owned by 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.