BNP Paribas Financial Markets Sells 54,655 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

BNP Paribas Financial Markets cut its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 42.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,946 shares of the biopharmaceutical company's stock after selling 54,655 shares during the period. BNP Paribas Financial Markets owned 0.09% of PTC Therapeutics worth $2,706,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. KBC Group NV grew its position in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock worth $83,000 after buying an additional 504 shares during the period. CWM LLC grew its holdings in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock worth $100,000 after purchasing an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock valued at $104,000 after purchasing an additional 492 shares in the last quarter. Quest Partners LLC purchased a new position in shares of PTC Therapeutics during the second quarter valued at approximately $128,000. Finally, Quarry LP boosted its position in shares of PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock worth $153,000 after purchasing an additional 2,500 shares in the last quarter.

Insider Buying and Selling at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 69,550 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00. Following the transaction, the insider now directly owns 86,202 shares of the company's stock, valued at approximately $4,487,676.12. This trade represents a 44.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark Elliott Boulding sold 85,600 shares of the business's stock in a transaction dated 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 directly owns 92,389 shares of the company's stock, valued at $4,828,249.14. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,950 shares of company stock worth $10,251,735 in the last three months. 5.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada raised PTC Therapeutics from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $39.00 to $63.00 in a research report on Tuesday. UBS Group raised their price target on PTC Therapeutics from $47.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. StockNews.com upgraded shares of PTC Therapeutics from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped 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. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $52.38.

PTC Therapeutics Stock Performance

Shares of PTCT traded down $0.36 during trading hours on Friday, hitting $48.04. The stock had a trading volume of 481,891 shares, compared to its average volume of 929,625. PTC Therapeutics, Inc. has a 12 month low of $23.58 and a 12 month high of $54.16. The stock has a fifty day moving average price of $41.49 and a 200 day moving average price of $36.80.

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.