E Fund Management Co. Ltd. Sells 986 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

E Fund Management Co. Ltd. reduced its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 15.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,520 shares of the biopharmaceutical company’s stock after selling 986 shares during the quarter. E Fund Management Co. Ltd.’s holdings in PTC Therapeutics were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vontobel Holding Ltd. acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $521,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares during the period. Intech Investment Management LLC acquired a new position in shares of PTC Therapeutics in the third quarter valued at about $698,000. Finally, Quest Partners LLC increased its position in PTC Therapeutics by 433.9% during the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after acquiring an additional 18,171 shares during the period.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $52.59 on Monday. The stock’s 50-day moving average is $47.85 and its 200 day moving average is $42.97. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $55.60. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -8.85 and a beta of 0.66.

Insider Transactions at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total transaction of $373,879.64. Following the transaction, the chief executive officer now owns 217,528 shares of the company’s stock, valued at $9,823,564.48. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Scott Golden sold 795 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $39,829.50. Following the completion of the sale, the executive vice president now owns 77,856 shares of the company’s stock, valued at approximately $3,900,585.60. This represents a 1.01 % decrease in their ownership of the stock. 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 quarter. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PTCT. Wells Fargo & Company boosted their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Citigroup lifted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Scotiabank started coverage on PTC Therapeutics in a report on Friday. They set a “sector perform” rating and a $55.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday. Finally, Royal Bank of Canada increased their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.77.

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.