Y Intercept Hong Kong Ltd Sells 6,043 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Y Intercept Hong Kong Ltd trimmed its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 54.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,981 shares of the biopharmaceutical company’s stock after selling 6,043 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PTC Therapeutics were worth $254,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 522 shares in the last quarter. GAMMA Investing LLC grew its stake in PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 441 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in PTC Therapeutics in the 4th quarter worth about $73,000. Smallwood Wealth Investment Management LLC bought a new position in PTC Therapeutics in the 1st quarter worth about $86,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in PTC Therapeutics in the 4th quarter worth about $77,000.

Analyst Ratings Changes

A number of equities analysts have commented on PTCT shares. JPMorgan Chase & Co. dropped their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Barclays upped their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wall Street Zen downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 16th. Cantor Fitzgerald increased their price objective on shares of PTC Therapeutics from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Royal Bank Of Canada increased their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $69.38.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 1,929 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total value of $89,081.22. Following the completion of the transaction, the vice president owned 103,901 shares of the company’s stock, valued at approximately $4,798,148.18. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Pierre Gravier sold 2,516 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the transaction, the chief financial officer directly owned 71,920 shares of the company’s stock, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,328 shares of company stock valued at $254,158. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Up 3.3%

NASDAQ:PTCT opened at $50.94 on Thursday. PTC Therapeutics, Inc. has a 52 week low of $29.01 and a 52 week high of $58.38. The firm has a 50 day moving average of $48.95 and a 200 day moving average of $48.58. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 7.82 and a beta of 0.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $437.16 million. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. PTC Therapeutics’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.20) earnings per share. As a group, analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current 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.