Vontobel Holding Ltd. Takes $521,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Vontobel Holding Ltd. acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 11,532 shares of the biopharmaceutical company’s stock, valued at approximately $521,000.

Several other large investors have also recently bought and sold shares of PTCT. Point72 Asset Management L.P. raised 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 valued at $21,364,000 after buying an additional 643,960 shares in the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of PTC Therapeutics during the 3rd quarter valued at about $7,234,000. State Street Corp boosted its stake in PTC Therapeutics by 5.4% during the third 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in PTC Therapeutics by 32.1% during the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock worth $18,270,000 after acquiring an additional 119,637 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald lifted their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $58.85.

PTC Therapeutics Trading Up 2.0 %

Shares of PTCT opened at $50.42 on Thursday. The firm has a market cap of $3.89 billion, a PE ratio of -8.49 and a beta of 0.62. The company’s 50 day simple moving average is $46.52 and its 200-day simple moving average is $41.29. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $54.16.

Insider Activity at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the completion of the transaction, the vice president now owns 92,389 shares of the company’s stock, valued at $4,828,249.14. The trade was a 48.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00. Following the sale, the insider now owns 86,202 shares of the company’s stock, valued at approximately $4,487,676.12. This represents a 44.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,737 shares of company stock worth $10,920,687 in the last three months. Insiders own 5.50% of the company’s stock.

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.