Vestal Point Capital LP Trims Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Vestal Point Capital LP decreased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the biopharmaceutical company’s stock after selling 10,000 shares during the quarter. Vestal Point Capital LP’s holdings in PTC Therapeutics were worth $2,968,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PTCT. Lazard Asset Management LLC increased its position in PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 4,741 shares during the last quarter. Burney Co. acquired a new position in PTC Therapeutics in the first quarter valued at $1,223,000. Harbor Capital Advisors Inc. grew its position in PTC Therapeutics by 39.1% during the second quarter. Harbor Capital Advisors Inc. now owns 47,380 shares of the biopharmaceutical company’s stock valued at $1,449,000 after acquiring an additional 13,326 shares during the period. Diversified Trust Co increased its stake in PTC Therapeutics by 5.6% during the second quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock worth $468,000 after acquiring an additional 818 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of PTC Therapeutics by 21.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after purchasing an additional 66,596 shares during the period.

PTC Therapeutics Stock Down 2.0 %

PTC Therapeutics stock opened at $45.11 on Friday. PTC Therapeutics, Inc. has a 12 month low of $21.10 and a 12 month high of $47.24. The company has a fifty day moving average price of $40.07 and a two-hundred day moving average price of $36.18.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Royal Bank of Canada raised their target price on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.69.

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.