South Dakota Investment Council cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,200 shares of the biopharmaceutical company’s stock after selling 5,300 shares during the period. South Dakota Investment Council owned about 0.10% of PTC Therapeutics worth $2,619,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in PTC Therapeutics by 1.9% in the 2nd quarter. Northern Trust Corp now owns 682,232 shares of the biopharmaceutical company’s stock valued at $30,701,000 after purchasing an additional 12,454 shares in the last quarter. Marshall Wace North America L.P. increased its stake in PTC Therapeutics by 79.5% during the 1st quarter. Marshall Wace North America L.P. now owns 662,587 shares of the biopharmaceutical company’s stock valued at $24,940,000 after purchasing an additional 293,495 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in PTC Therapeutics by 38.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 640,523 shares of the biopharmaceutical company’s stock worth $28,697,000 after buying an additional 178,000 shares during the last quarter. Spark Investment Management LLC lifted its stake in shares of PTC Therapeutics by 56.4% in the first quarter. Spark Investment Management LLC now owns 566,000 shares of the biopharmaceutical company’s stock worth $21,304,000 after buying an additional 204,100 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of PTC Therapeutics by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 563,406 shares of the biopharmaceutical company’s stock worth $19,336,000 after buying an additional 37,593 shares in the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.
PTCT traded up $1.69 during trading hours on Wednesday, hitting $43.96. The company’s stock had a trading volume of 9,465 shares, compared to its average volume of 286,971. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -23.66 and a beta of 1.74. The business’s 50-day moving average price is $45.01 and its 200-day moving average price is $40.65. The company has a current ratio of 2.73, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28. PTC Therapeutics, Inc. has a 12 month low of $27.53 and a 12 month high of $48.99.
In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,312 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $44.74, for a total transaction of $685,058.88. Following the completion of the transaction, the vice president now owns 32,805 shares of the company’s stock, valued at $1,467,695.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christine Marie Utter sold 988 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $45.00, for a total value of $44,460.00. Following the completion of the transaction, the chief accounting officer now owns 5,173 shares in the company, valued at approximately $232,785. The disclosure for this sale can be found here. Over the last three months, insiders have sold 289,601 shares of company stock worth $13,030,032. Corporate insiders own 7.00% of the company’s stock.
Several brokerages recently weighed in on PTCT. ValuEngine downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 17th. Barclays reissued a “hold” rating and set a $43.00 price target on shares of PTC Therapeutics in a report on Monday, August 12th. Finally, Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.89.
PTC Therapeutics Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
See Also: What are gap-up stocks?
Want to see what other hedge funds are holding PTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Therapeutics, Inc. (NASDAQ:PTCT).
Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.