E Fund Management Co. Ltd. Has $249,000 Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

E Fund Management Co. Ltd. lessened its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PTCT. State Street Corp grew its holdings in 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 acquiring an additional 149,700 shares during the period. Geode Capital Management LLC grew its stake in shares of PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 purchasing an additional 47,902 shares during the period. Point72 Asset Management L.P. increased its holdings in PTC Therapeutics by 945.6% in the third 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 last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PTC Therapeutics by 6.0% in the third 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 buying an additional 26,773 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on PTC Therapeutics from $74.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Robert W. Baird boosted their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Barclays increased their target price 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. Scotiabank initiated coverage on shares of PTC Therapeutics in a report on Friday. They issued a “sector perform” rating and a $55.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three 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. According to data from MarketBeat.com, PTC Therapeutics presently has an average rating of “Hold” and an average price target of $61.77.

Insider Activity at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 1,543 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $69,959.62. Following the completion of the transaction, the vice president now directly owns 108,846 shares of the company’s stock, valued at approximately $4,935,077.64. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allan Steven Jacobson sold 1,230 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the transaction, the director now directly owns 19,118 shares in the company, valued at $984,959.36. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,870 shares of company stock valued at $1,075,657. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Down 0.4 %

NASDAQ:PTCT opened at $52.59 on Monday. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $55.60. The company has a market cap of $4.15 billion, a P/E ratio of -8.85 and a beta of 0.66. The business has a 50 day moving average price of $47.85 and a two-hundred day moving average price of $42.97.

About PTC Therapeutics

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.