Candriam S.C.A. Decreases Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Candriam S.C.A. reduced its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,109 shares of the biopharmaceutical company’s stock after selling 8,111 shares during the period. Candriam S.C.A. owned about 0.21% of PTC Therapeutics worth $7,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its position in PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after purchasing an additional 149,700 shares during the last quarter. Geode Capital Management LLC increased its position in PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after purchasing an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. increased its position in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after purchasing an additional 47,902 shares during the period. Point72 Asset Management L.P. increased its position in PTC Therapeutics by 945.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after purchasing an additional 643,960 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in PTC Therapeutics by 6.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company’s stock valued at $17,522,000 after purchasing an additional 26,773 shares during the period.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 1,168 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $58,516.80. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares in the company, valued at approximately $9,823,564.48. The trade was a 3.67 % 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 worth $1,075,657 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of recent analyst reports. Citigroup lifted their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Barclays boosted their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird boosted their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.77.

PTC Therapeutics Price Performance

PTC Therapeutics stock opened at $52.59 on Friday. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $55.60. The company has a market cap of $4.06 billion, a PE ratio of -8.85 and a beta of 0.62. The stock’s 50 day moving average price is $47.85 and its 200 day moving average price is $42.85.

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.