PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 39.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,632 shares of the biopharmaceutical company’s stock after selling 15,278 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in PTC Therapeutics were worth $1,067,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PTCT. State Street Corp grew its holdings in shares of 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 buying an additional 149,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after buying an additional 10,886 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PTC Therapeutics by 7.3% during 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 in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of PTC Therapeutics by 945.6% during the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after buying an additional 643,960 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of PTC Therapeutics by 6.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company’s stock worth $17,522,000 after buying an additional 26,773 shares in the last quarter.

PTC Therapeutics Stock Down 0.6 %

Shares of NASDAQ:PTCT opened at $56.63 on Friday. The firm’s 50 day moving average price is $49.52 and its 200 day moving average price is $44.10. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -9.53 and a beta of 0.66. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 8,279 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares of the company’s stock, valued at $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christine Marie Utter sold 1,291 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the sale, the chief accounting officer now directly owns 65,983 shares in the company, valued at approximately $2,991,669.22. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,391 shares of company stock valued at $2,172,927 over the last 90 days. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PTCT shares. Cantor Fitzgerald upped their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Citigroup upped their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. The Goldman Sachs Group upped 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. Finally, StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.