Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 39.3% during the fourth quarter, according to its most recent filing with the SEC. The firm 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.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 270 shares during the period. Venturi Wealth Management LLC purchased a new position in PTC Therapeutics during the 4th quarter valued at about $68,000. R Squared Ltd purchased a new position in PTC Therapeutics during the 4th quarter valued at about $79,000. KBC Group NV grew its position in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $210,000.

PTC Therapeutics Trading Down 0.6 %

Shares of NASDAQ PTCT opened at $56.63 on Friday. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $58.38. The company has a 50 day simple moving average of $49.52 and a two-hundred day simple moving average of $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.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, EVP Lee Scott Golden sold 795 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $39,829.50. Following the completion of the sale, the executive vice president now directly owns 77,856 shares in the company, valued at approximately $3,900,585.60. The trade was a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total transaction of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,391 shares of company stock worth $2,172,927. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, UBS Group lifted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.