Inceptionr LLC Cuts Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Inceptionr LLC cut its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,115 shares of the biopharmaceutical company’s stock after selling 1,567 shares during the quarter. Inceptionr LLC’s holdings in PTC Therapeutics were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PTCT. Arizona State Retirement System grew its holdings in shares of PTC Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock valued at $907,000 after purchasing an additional 219 shares during the last quarter. Choreo LLC boosted its position in PTC Therapeutics by 2.0% during the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock valued at $541,000 after buying an additional 240 shares during the period. Smartleaf Asset Management LLC grew its stake 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. Janney Montgomery Scott LLC increased its holdings in shares of PTC Therapeutics by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 455 shares during the period. Finally, KBC Group NV lifted its stake in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 504 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on PTCT. UBS Group raised their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a research note on Friday. Royal Bank of Canada upped their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PTC Therapeutics from $74.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $61.77.

Insider Activity at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 1,265 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $57,355.10. Following the transaction, the insider now owns 104,783 shares in the company, valued at $4,750,861.22. This represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 1,543 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $69,959.62. Following the completion of the sale, the vice president now owns 108,846 shares in the company, valued at $4,935,077.64. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,870 shares of company stock valued at $1,075,657 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

Shares of PTCT opened at $52.59 on Monday. The company has a 50-day simple moving average of $47.85 and a two-hundred day simple moving average of $42.97. The firm has a market capitalization of $4.15 billion, a PE ratio of -8.85 and a beta of 0.66. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $55.60.

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.