Edgestream Partners L.P. Has $1.13 Million Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Edgestream Partners L.P. lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,383 shares of the biopharmaceutical company’s stock after buying an additional 8,303 shares during the period. Edgestream Partners L.P.’s holdings in PTC Therapeutics were worth $1,127,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. KBC Group NV increased its holdings in shares of PTC Therapeutics by 29.2% during 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 in the last quarter. CWM LLC increased its holdings in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 492 shares during the period. Quest Partners LLC acquired a new stake in PTC Therapeutics in the second quarter valued at $128,000. Finally, Quarry LP increased its holdings in PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 shares during the period.

Insider Transactions at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 85,600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. This trade represents a 48.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Neil Gregory Almstead sold 69,550 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now directly owns 86,202 shares in the company, valued at approximately $4,487,676.12. The trade was a 44.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,950 shares of company stock valued at $10,251,735 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Morgan Stanley upped their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Hold” and an average price target of $52.38.

PTC Therapeutics Price Performance

PTCT stock opened at $49.86 on Thursday. The stock has a market capitalization of $3.85 billion, a PE ratio of -8.39 and a beta of 0.63. The company’s 50-day moving average is $41.06 and its 200-day moving average is $36.66. PTC Therapeutics, Inc. has a 1 year low of $23.58 and a 1 year high of $54.16.

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.