Vontobel Holding Ltd. Takes Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Vontobel Holding Ltd. acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,532 shares of the biopharmaceutical company’s stock, valued at approximately $521,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its stake in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 worth $66,743,000 after acquiring an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $26,220,000 after purchasing an additional 47,902 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of 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 worth $21,364,000 after purchasing an additional 643,960 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in PTC Therapeutics by 32.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock valued at $18,270,000 after acquiring an additional 119,637 shares in the last quarter.

Insider Buying and Selling at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 69,550 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the sale, the insider now owns 86,202 shares in the company, valued at $4,487,676.12. The trade was a 44.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total transaction of $921,506.00. Following the completion of the sale, the chief accounting officer now owns 52,428 shares of the company’s stock, valued at approximately $2,714,197.56. The trade was a 25.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,737 shares of company stock valued at $10,920,687 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PTCT has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird boosted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald upped their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company upped their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics has an average rating of “Hold” and a consensus price target of $58.85.

PTC Therapeutics Trading Up 2.0 %

Shares of PTCT opened at $50.42 on Thursday. The stock has a 50 day simple moving average of $46.52 and a 200-day simple moving average of $41.29. The stock has a market cap of $3.89 billion, a PE ratio of -8.49 and a beta of 0.62. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $54.16.

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.