Fmr LLC Trims Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

FMR LLC decreased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,057,182 shares of the biopharmaceutical company's stock after selling 46,917 shares during the period. FMR LLC owned approximately 1.37% of PTC Therapeutics worth $39,221,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV increased its holdings in shares of PTC Therapeutics by 29.2% during 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 last quarter. CWM LLC increased its holdings in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock worth $100,000 after buying an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PTC Therapeutics by 21.5% during the 3rd 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 during the last quarter. Quest Partners LLC acquired a new stake in shares of PTC Therapeutics during the 2nd quarter worth approximately $128,000. Finally, Quarry LP increased its holdings in shares of PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock worth $153,000 after buying an additional 2,500 shares during the last quarter.

Insider Transactions at PTC Therapeutics

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

Analysts Set New Price Targets

Several research firms recently weighed in on PTCT. Baird R W upgraded shares of PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. Citigroup lifted their target price on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a "sell" rating in a report on Wednesday, December 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. Royal Bank of Canada upgraded shares of PTC Therapeutics from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Finally, Barclays lifted their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $52.38.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded up $0.02 during trading on Monday, hitting $48.06. 887,754 shares of the stock were exchanged, compared to its average volume of 854,889. The firm's 50-day moving average price is $41.49 and its 200 day moving average price is $36.77. PTC Therapeutics, Inc. has a 12-month low of $23.58 and a 12-month high of $54.16.

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.