Schonfeld Strategic Advisors LLC Decreases Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Schonfeld Strategic Advisors LLC reduced its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 35.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,280 shares of the biopharmaceutical company's stock after selling 66,953 shares during the quarter. Schonfeld Strategic Advisors LLC owned 0.16% of PTC Therapeutics worth $5,520,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vontobel Holding Ltd. bought a new stake in PTC Therapeutics in the 4th quarter valued at $521,000. Raymond James Financial Inc. bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $2,200,000. Natixis Advisors LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $544,000. Proficio Capital Partners LLC bought a new position in shares of PTC Therapeutics during the fourth quarter worth about $758,000. Finally, American Century Companies Inc. raised its position in PTC Therapeutics by 66.8% in the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock valued at $2,715,000 after buying an additional 24,090 shares during the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the transaction, the vice president now directly owns 103,901 shares in the company, valued at approximately $5,537,923.30. This represents a 13.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Scott Golden sold 795 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $39,829.50. Following the transaction, the executive vice president now directly owns 77,856 shares in the company, 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 have sold a total of 32,305 shares of company stock valued at $1,682,755 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PTCT shares. Citigroup upped their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. Royal Bank of Canada restated an "outperform" rating and set a $65.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald lifted their target price on PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.92.

PTC Therapeutics Trading Down 18.6 %

NASDAQ PTCT traded down $9.30 during trading on Monday, hitting $40.65. 4,200,925 shares of the company's stock were exchanged, compared to its average volume of 816,619. The company has a market cap of $3.21 billion, a PE ratio of -6.84 and a beta of 0.52. PTC Therapeutics, Inc. has a fifty-two week low of $28.72 and a fifty-two week high of $58.38. The stock's 50 day moving average price is $50.00 and its two-hundred day moving average price is $47.04.

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.