Scopia Capital Management LP reduced its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 53.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 983,005 shares of the biopharmaceutical company’s stock after selling 1,123,185 shares during the period. PTC Therapeutics comprises approximately 2.0% of Scopia Capital Management LP’s holdings, making the stock its 15th biggest holding. Scopia Capital Management LP owned 1.67% of PTC Therapeutics worth $44,235,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Pictet Asset Management Ltd. increased its stake in PTC Therapeutics by 183.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 1,122,473 shares of the biopharmaceutical company’s stock worth $50,511,000 after buying an additional 725,997 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of PTC Therapeutics by 344.8% during the second quarter. Panagora Asset Management Inc. now owns 526,260 shares of the biopharmaceutical company’s stock valued at $23,682,000 after acquiring an additional 407,959 shares during the period. BlackRock Inc. raised its holdings in shares of PTC Therapeutics by 9.6% during the second quarter. BlackRock Inc. now owns 4,502,671 shares of the biopharmaceutical company’s stock valued at $202,619,000 after acquiring an additional 394,773 shares during the period. Sofinnova Investments Inc. acquired a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $16,601,000. Finally, Marshall Wace North America L.P. raised its holdings in shares of PTC Therapeutics by 79.5% during the first quarter. Marshall Wace North America L.P. now owns 662,587 shares of the biopharmaceutical company’s stock valued at $24,940,000 after acquiring an additional 293,495 shares during the period. 97.84% of the stock is owned by hedge funds and other institutional investors.
PTC Therapeutics stock traded up $0.19 during trading hours on Friday, hitting $39.19. The company had a trading volume of 27,873 shares, compared to its average volume of 287,935. The firm has a market capitalization of $2.55 billion, a P/E ratio of -21.36 and a beta of 1.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.73 and a quick ratio of 2.63. The firm’s fifty day moving average is $44.38 and its 200-day moving average is $40.97. PTC Therapeutics, Inc. has a fifty-two week low of $27.53 and a fifty-two week high of $48.99.
In related news, SVP Christine Marie Utter sold 14,059 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $45.14, for a total transaction of $634,623.26. Following the completion of the sale, the senior vice president now directly owns 5,173 shares of the company’s stock, valued at approximately $233,509.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Mark Elliott Boulding sold 77,575 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $3,490,875.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,601 shares of company stock worth $13,030,032. 7.00% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, June 17th. Zacks Investment Research lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, Barclays reiterated a “hold” rating and issued a $43.00 price objective on shares of PTC Therapeutics in a research note on Monday, August 12th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PTC Therapeutics has a consensus rating of “Buy” and a consensus target price of $50.89.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
Recommended Story: The primary rules of Elliott Wave theory
Want to see what other hedge funds are holding PTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Therapeutics, Inc. (NASDAQ:PTCT).
Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.