Connor Clark & Lunn Investment Management Ltd. Sells 15,278 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 39.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,632 shares of the biopharmaceutical company's stock after selling 15,278 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in PTC Therapeutics were worth $1,067,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after buying an additional 149,700 shares in the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. lifted its position in PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock valued at $26,220,000 after acquiring an additional 47,902 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company's stock worth $21,364,000 after purchasing an additional 643,960 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PTC Therapeutics by 6.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company's stock worth $17,522,000 after purchasing an additional 26,773 shares during the period.

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Insider Buying and Selling

In other PTC Therapeutics news, Director Stephanie Okey sold 5,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now directly owns 8,867 shares in the company, valued at $478,818. The trade was a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 15,521 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the sale, the vice president now owns 103,901 shares of the company's stock, valued at approximately $5,537,923.30. This represents a 13.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,391 shares of company stock valued at $2,172,927. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PTCT shares. Bank of America upgraded PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Morgan Stanley restated an "overweight" rating and issued a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Finally, Citigroup raised their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.00.

PTC Therapeutics Price Performance

NASDAQ PTCT traded down $0.11 during trading on Monday, reaching $57.03. 1,003,509 shares of the company's stock were exchanged, compared to its average volume of 735,797. The business has a 50 day moving average price of $49.78 and a 200-day moving average price of $44.40. The stock has a market capitalization of $4.50 billion, a P/E ratio of -9.60 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 $58.46.

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.