PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Fmr LLC

Fmr LLC lowered its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,057,182 shares of the biopharmaceutical company’s stock after selling 46,917 shares during the period. Fmr LLC owned 1.37% of PTC Therapeutics worth $39,221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of PTC Therapeutics by 21.7% during the second quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after buying an additional 66,596 shares during the period. Intech Investment Management LLC acquired a new stake in PTC Therapeutics during the 3rd quarter worth approximately $698,000. Charles Schwab Investment Management Inc. lifted its position in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after acquiring an additional 47,902 shares during the period. Bank of New York Mellon Corp grew its stake in shares of PTC Therapeutics by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company’s stock valued at $8,533,000 after purchasing an additional 40,840 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 18,171 shares during the period.

Insider Activity at PTC Therapeutics

In related news, CAO Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total transaction of $921,506.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,428 shares in the company, valued at $2,714,197.56. The trade was a 25.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the sale, the vice president now owns 92,389 shares in the company, valued at approximately $4,828,249.14. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,950 shares of company stock valued at $10,251,735. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTCT shares. UBS Group increased their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Raymond James began coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They issued a “market perform” rating on the stock. Barclays increased their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.38.

PTC Therapeutics Stock Down 0.7 %

Shares of PTCT stock opened at $48.04 on Monday. The stock has a market cap of $3.71 billion, a P/E ratio of -8.09 and a beta of 0.63. PTC Therapeutics, Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The business has a fifty day simple moving average of $41.49 and a 200-day simple moving average of $36.77.

PTC Therapeutics 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.