BNP Paribas Financial Markets Sells 171,910 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

BNP Paribas Financial Markets cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 46.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 199,670 shares of the biopharmaceutical company’s stock after selling 171,910 shares during the quarter. BNP Paribas Financial Markets owned about 0.26% of PTC Therapeutics worth $5,808,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PTCT. Vise Technologies Inc. lifted its position in PTC Therapeutics by 20.1% in the 4th quarter. Vise Technologies Inc. now owns 12,808 shares of the biopharmaceutical company’s stock valued at $353,000 after acquiring an additional 2,140 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $6,412,000. Wellington Management Group LLP raised its holdings in shares of PTC Therapeutics by 4.0% in the fourth 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 last quarter. Walleye Capital LLC lifted its position in shares of PTC Therapeutics by 958.6% in the third quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock worth $1,614,000 after purchasing an additional 65,226 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in PTC Therapeutics by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock worth $178,058,000 after purchasing an additional 393,012 shares during the last quarter.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of analyst reports. Raymond James raised shares of PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Monday, May 20th. Morgan Stanley raised shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $28.00 to $30.00 in a research report on Monday, April 29th. Jefferies Financial Group raised their price target on shares of PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. The Goldman Sachs Group boosted their price objective on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday, May 28th. Finally, Citigroup raised their target price on shares of PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.40.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 20,000 shares of PTC Therapeutics 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 sale, the director now owns 14,500 shares of the company’s stock, valued at $554,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the sale, the chief executive officer now directly owns 225,807 shares in the company, valued at approximately $5,620,336.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerome B. Zeldis sold 20,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total transaction of $764,800.00. Following the transaction, the director now owns 14,500 shares of the company’s stock, valued at approximately $554,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,323 shares of company stock worth $873,984. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Trading Up 4.5 %

Shares of NASDAQ:PTCT opened at $33.20 on Friday. PTC Therapeutics, Inc. has a 52-week low of $17.53 and a 52-week high of $42.14. The business’s 50 day simple moving average is $34.63 and its two-hundred day simple moving average is $30.25.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $160.27 million. On average, research analysts expect that PTC Therapeutics, Inc. will post -4.9 earnings per share 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.