Federated Hermes Inc. Purchases New Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Federated Hermes Inc. acquired a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,828 shares of the biopharmaceutical company's stock, valued at approximately $2,159,000. Federated Hermes Inc. owned approximately 0.06% of PTC Therapeutics at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 270 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics in the 4th quarter valued at approximately $68,000. R Squared Ltd acquired a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $79,000. KBC Group NV raised its stake 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 worth $137,000 after purchasing an additional 813 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in PTC Therapeutics in the 4th quarter valued at $210,000.

PTC Therapeutics Trading Up 2.1 %

Shares of NASDAQ PTCT traded up $0.98 on Friday, reaching $47.39. 1,036,666 shares of the company traded hands, compared to its average volume of 821,653. The stock has a market capitalization of $3.74 billion, a PE ratio of -7.98 and a beta of 0.58. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38. The company has a 50 day moving average of $50.22 and a 200 day moving average of $46.01.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 1,333 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $66,783.30. Following the transaction, the vice president now directly owns 105,515 shares in the company, valued at $5,286,301.50. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Scott Golden sold 897 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the sale, the executive vice president now owns 75,997 shares of the company's stock, valued at $3,568,059.15. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,501 shares of company stock valued at $1,546,088 over the last quarter. Company insiders own 5.50% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PTCT. JPMorgan Chase & Co. reduced their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Citigroup lifted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a report on Wednesday, February 12th. Cantor Fitzgerald boosted their target price on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Scotiabank assumed coverage on PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price target for the company. Finally, StockNews.com downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $63.77.

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.