EntryPoint Capital LLC Decreases Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

EntryPoint Capital LLC decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 60.1% in the 1st quarter, HoldingsChannel reports. 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 large investors also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of PTC Therapeutics during the 1st quarter worth approximately $3,302,000. Seven Eight Capital LP increased its stake in shares of PTC Therapeutics by 148.3% during the 1st quarter. Seven Eight Capital LP now owns 58,692 shares of the biopharmaceutical company’s stock worth $1,707,000 after purchasing an additional 35,055 shares during the last quarter. Edgestream Partners L.P. increased its stake in shares of PTC Therapeutics by 49.3% during the 1st quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company’s stock worth $1,557,000 after purchasing an additional 17,681 shares during the last quarter. Vanguard Group Inc. increased its stake 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 worth $272,545,000 after purchasing an additional 568,171 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of PTC Therapeutics by 9.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,101 shares of the biopharmaceutical company’s stock worth $643,000 after purchasing an additional 1,890 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently commented on PTCT shares. Bank of America raised their price objective on shares of PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a report on Friday, June 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $62.00 price objective on shares of PTC Therapeutics in a report on Tuesday, July 16th. Citigroup raised their price objective 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. Jefferies Financial Group raised their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of PTC Therapeutics in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.64.

Insider Buying and Selling

In related news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction dated 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 of the company’s stock, valued at approximately $1,821,124.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerome B. Zeldis sold 20,000 shares of the business’s 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 sale, the director now directly owns 14,500 shares in the company, valued at approximately $554,480. The disclosure for this sale can be found here. Insiders have sold a total of 22,444 shares of company stock worth $847,735 in the last 90 days. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $0.52 on Friday, hitting $34.09. 574,092 shares of the company traded hands, compared to its average volume of 734,264. The firm’s 50-day simple moving average is $34.88 and its 200 day simple moving average is $30.66. PTC Therapeutics, Inc. has a 12-month low of $17.53 and a 12-month high of $42.14.

PTC Therapeutics (NASDAQ:PTCT) last issued its 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 during the quarter, compared to analysts’ expectations of $160.27 million. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -4.87 earnings per share for the current fiscal year.

PTC Therapeutics Company 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.