Edgestream Partners L.P. trimmed its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT – Free Report) by 58.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 22,080 shares of the biopharmaceutical company’s stock after selling 31,442 shares during the period. Edgestream Partners L.P.’s holdings in PTC Therapeutics were worth $675,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of PTC Therapeutics in the first quarter valued at about $46,000. Quest Partners LLC purchased a new stake in shares of PTC Therapeutics in the second quarter valued at about $128,000. Lazard Asset Management LLC raised its holdings in shares of PTC Therapeutics by 268.9% in the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 4,741 shares during the last quarter. Headlands Technologies LLC raised its holdings in PTC Therapeutics by 83.2% during the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock worth $202,000 after purchasing an additional 3,002 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. purchased a new position in PTC Therapeutics during the second quarter worth about $205,000.
Insider Buying and Selling
In related news, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total transaction of $77,191.38. Following the sale, the chief financial officer now owns 53,531 shares in the company, valued at $1,821,124.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by company insiders.
Analyst Ratings Changes
Read Our Latest Analysis on PTCT
PTC Therapeutics Price Performance
PTCT stock opened at $36.64 on Friday. The company’s 50 day simple moving average is $33.41 and its 200-day simple moving average is $32.43. The firm has a market capitalization of $2.81 billion, a PE ratio of -4.77 and a beta of 0.64. PTC Therapeutics, Inc. has a 12 month low of $17.53 and a 12 month high of $40.69.
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. As a group, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current year.
PTC Therapeutics 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.
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