PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 17.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 562,781 shares of the biopharmaceutical company's stock after selling 118,152 shares during the quarter. JPMorgan Chase & Co. owned about 0.73% of PTC Therapeutics worth $20,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its holdings 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 valued at $21,364,000 after purchasing an additional 643,960 shares during the last quarter. Armistice Capital LLC grew its stake in shares of PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company's stock valued at $212,905,000 after buying an additional 198,227 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of PTC Therapeutics in the 3rd quarter valued at $7,234,000. Ensign Peak Advisors Inc lifted its stake in PTC Therapeutics by 650.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company's stock worth $6,370,000 after acquiring an additional 180,561 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in PTC Therapeutics by 123.2% during the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company's stock valued at $9,712,000 after acquiring an additional 175,289 shares during the period.

Insider Buying and Selling

In other PTC Therapeutics 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 transaction, the chief accounting officer now owns 52,428 shares of the company's stock, valued at $2,714,197.56. The trade was a 25.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the sale, the chief executive officer now directly owns 217,528 shares of the company's stock, valued at $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 205,229 shares of company stock worth $10,625,615 in the last ninety days. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded up $0.43 during trading on Thursday, hitting $45.04. 615,936 shares of the company were exchanged, compared to its average volume of 525,267. The firm's 50 day moving average price is $45.02 and its 200-day moving average price is $38.34. PTC Therapeutics, Inc. has a 12-month low of $23.58 and a 12-month high of $54.16. The stock has a market capitalization of $3.47 billion, a P/E ratio of -7.58 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley upgraded shares of PTC Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Robert W. Baird increased their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Barclays upped their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, 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 research note on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $54.08.

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.