Janus Henderson Group PLC Sells 1,111,342 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Janus Henderson Group PLC lowered its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 37.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,870,217 shares of the biopharmaceutical company's stock after selling 1,111,342 shares during the period. Janus Henderson Group PLC owned 2.43% of PTC Therapeutics worth $69,391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. lifted its holdings in shares of PTC Therapeutics by 37.6% in the 3rd quarter. Edgestream Partners L.P. now owns 30,383 shares of the biopharmaceutical company's stock valued at $1,127,000 after buying an additional 8,303 shares during the period. PDT Partners LLC lifted its holdings in PTC Therapeutics by 18.4% in the third quarter. PDT Partners LLC now owns 165,068 shares of the biopharmaceutical company's stock valued at $6,124,000 after acquiring an additional 25,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PTC Therapeutics by 6.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company's stock worth $572,000 after purchasing an additional 884 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $26,220,000 after purchasing an additional 47,902 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of PTC Therapeutics in the 3rd quarter valued at $1,661,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PTCT shares. Baird R W raised shares of PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. The Goldman Sachs Group upped their price target on PTC Therapeutics from $32.00 to $42.00 and gave the company a "sell" rating in a research report on Wednesday. UBS Group lifted their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday. Citigroup upped their target price on PTC Therapeutics from $26.00 to $32.00 and gave the company a "sell" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $52.38.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the company'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 owns 92,389 shares in the company, valued at approximately $4,828,249.14. The trade was a 48.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Christine Marie Utter sold 17,800 shares of the company's stock in a transaction dated 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 approximately $2,714,197.56. This trade represents a 25.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,950 shares of company stock valued at $10,251,735 in the last ninety days. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $0.36 during trading on Friday, hitting $48.04. 481,891 shares of the stock traded hands, compared to its average volume of 854,750. The company has a fifty day moving average price of $41.28 and a two-hundred day moving average price of $36.74. PTC Therapeutics, Inc. has a twelve month low of $23.58 and a twelve month high of $54.16. The stock has a market cap of $3.70 billion, a P/E ratio of -8.15 and a beta of 0.63.

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.