Inceptionr LLC Sells 1,567 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Inceptionr LLC cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 18.0% during the 4th quarter, Holdings Channel reports. The fund owned 7,115 shares of the biopharmaceutical company’s stock after selling 1,567 shares during the period. Inceptionr LLC’s holdings in PTC Therapeutics were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in shares of PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the fourth quarter worth about $68,000. R Squared Ltd purchased a new stake in PTC Therapeutics in the fourth quarter worth about $79,000. KBC Group NV raised its stake in shares of PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares during the period. Finally, Savant Capital LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at about $210,000.

Insider Activity at PTC Therapeutics

In related news, Director Allan Steven Jacobson sold 1,230 shares of PTC Therapeutics stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares in the company, valued at approximately $984,959.36. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Pierre Gravier sold 1,168 shares of the company’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 $58,516.80. Following the sale, the chief financial officer now owns 75,603 shares in the company, valued at approximately $3,787,710.30. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,870 shares of company stock valued at $1,075,657 over the last 90 days. 5.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PTCT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of PTC Therapeutics from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Morgan Stanley restated an “overweight” rating and set a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a research report on Friday. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday. They set a “sector perform” rating and a $55.00 target price on the stock. Wells Fargo & Company increased their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald boosted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.77.

PTC Therapeutics Stock Performance

NASDAQ PTCT opened at $52.59 on Monday. The stock has a 50 day moving average price of $47.85 and a 200-day moving average price of $42.97. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $55.60. The company has a market capitalization of $4.15 billion, a P/E ratio of -8.85 and a beta of 0.66.

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.