PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Holdings Trimmed by EntryPoint Capital LLC

EntryPoint Capital LLC lowered its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 60.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,261 shares of the biopharmaceutical company’s stock after selling 3,401 shares during the period. EntryPoint Capital LLC’s holdings in PTC Therapeutics were worth $66,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of PTC Therapeutics by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after purchasing an additional 380,415 shares during the period. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock valued at $272,545,000 after purchasing an additional 568,171 shares during the period. RTW Investments LP increased its position in shares of PTC Therapeutics by 2.6% during the 4th quarter. RTW Investments LP now owns 7,423,970 shares of the biopharmaceutical company’s stock valued at $204,605,000 after purchasing an additional 188,774 shares during the period. Armistice Capital LLC increased its position in shares of PTC Therapeutics by 11.6% during the 4th quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock valued at $189,172,000 after purchasing an additional 714,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PTC Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company’s stock valued at $16,837,000 after purchasing an additional 14,155 shares during the period.

Insider Transactions at PTC Therapeutics

In other news, Director Jerome B. Zeldis sold 20,000 shares of PTC Therapeutics stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total value of $764,800.00. Following the transaction, the director now directly owns 14,500 shares in the company, valued at $554,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the transaction, the chief financial officer now directly owns 53,531 shares in the company, valued at $1,821,124.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerome B. Zeldis sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total value of $764,800.00. Following the transaction, the director now owns 14,500 shares in the company, valued at $554,480. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,444 shares of company stock worth $847,735. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PTCT. Morgan Stanley lifted their price target on PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $62.00 target price on shares of PTC Therapeutics in a report on Tuesday, July 16th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a report on Thursday, June 20th. Citigroup lifted their target price on PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, May 21st. Finally, Raymond James upgraded PTC Therapeutics from an “underperform” rating to a “market perform” rating in a report on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.64.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded up $0.52 on Friday, reaching $34.09. The company had a trading volume of 574,092 shares, compared to its average volume of 734,264. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $42.14. The stock has a 50-day moving average price of $34.88 and a 200 day moving average price of $30.66.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to the consensus estimate of $160.27 million. On average, equities research analysts predict that PTC Therapeutics, Inc. will post -4.87 EPS for the current fiscal year.

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.