PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC increased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 843.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,228 shares of the biopharmaceutical company's stock after purchasing an additional 6,462 shares during the period. Headlands Technologies LLC's holdings in PTC Therapeutics were worth $326,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. 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 valued at $28,000 after buying an additional 270 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in PTC Therapeutics in the fourth quarter valued at approximately $68,000. R Squared Ltd purchased a new position in PTC Therapeutics in the fourth quarter worth $79,000. KBC Group NV increased its position 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 in the last quarter. Finally, Savant Capital LLC acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth $210,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PTCT shares. Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Cantor Fitzgerald boosted their target price 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. Finally, Scotiabank initiated coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $63.77.

Insider Activity

In other PTC Therapeutics news, Director Stephanie Okey sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Pierre Gravier sold 1,168 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $58,516.80. Following the transaction, the chief financial officer now directly owns 75,603 shares in the company, valued at approximately $3,787,710.30. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,501 shares of company stock worth $1,546,088 over the last ninety days. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

Shares of PTCT traded down $3.69 during trading hours on Thursday, hitting $39.06. 226,582 shares of the stock were exchanged, compared to its average volume of 809,163. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $58.38. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -6.62 and a beta of 0.58. The stock's 50-day moving average price is $50.81 and its two-hundred day moving average price is $45.75.

About PTC Therapeutics

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.