PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 28.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 38,910 shares of the biopharmaceutical company's stock after selling 15,659 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of PTC Therapeutics worth $1,444,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Choreo LLC lifted its stake in shares of PTC Therapeutics by 4.1% in the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company's stock worth $356,000 after acquiring an additional 452 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $104,000 after buying an additional 492 shares in the last quarter. KBC Group NV raised its holdings in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 504 shares in the last quarter. Arizona State Retirement System boosted its stake in PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company's stock valued at $590,000 after acquiring an additional 636 shares during the last quarter. Finally, Creative Planning grew its holdings in PTC Therapeutics by 8.1% during the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company's stock worth $406,000 after acquiring an additional 816 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on PTCT. StockNews.com downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th. Barclays increased their target price on shares of PTC Therapeutics from $31.00 to $43.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. Wells Fargo & Company increased their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $44.69.

PTC Therapeutics Trading Down 2.0 %

PTCT stock traded down $0.90 during trading on Wednesday, hitting $45.11. The company had a trading volume of 789,371 shares, compared to its average volume of 843,750. The business has a 50 day moving average of $39.70 and a 200 day moving average of $36.06. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -7.75 and a beta of 0.63. PTC Therapeutics, Inc. has a fifty-two week low of $21.10 and a fifty-two week high of $47.24.

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.