MPM Bioimpact LLC Has $19.63 Million Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

MPM Bioimpact LLC raised its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 384.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,767 shares of the biopharmaceutical company’s stock after buying an additional 345,052 shares during the period. PTC Therapeutics accounts for 2.8% of MPM Bioimpact LLC’s holdings, making the stock its 12th largest holding. MPM Bioimpact LLC owned approximately 0.56% of PTC Therapeutics worth $19,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC boosted its stake in PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 522 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $68,000. R Squared Ltd bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $79,000. Finally, KBC Group NV raised its position in shares of PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 813 shares during the period.

Insiders Place Their Bets

In related news, Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction that occurred 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 approximately $478,818. The trade was a 36.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Elliott Boulding sold 1,333 shares of the company’s stock in a transaction that occurred on 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 owns 105,515 shares of the company’s stock, valued at approximately $5,286,301.50. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,305 shares of company stock valued at $1,682,755 over the last 90 days. 5.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Bank of America raised PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $68.00 in a research note on Friday, May 9th. Barclays cut their price target on shares of PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Cantor Fitzgerald cut their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Finally, Scotiabank began coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.92.

PTC Therapeutics Trading Up 0.8%

Shares of NASDAQ PTCT opened at $46.39 on Wednesday. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -7.81 and a beta of 0.52. The company’s 50-day moving average price is $48.74 and its 200 day moving average price is $47.10.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $437.16 million. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.20) EPS. As a group, research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

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.