Y Intercept Hong Kong Ltd Sells 18,312 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Y Intercept Hong Kong Ltd cut its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 57.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,829 shares of the biopharmaceutical company's stock after selling 18,312 shares during the period. Y Intercept Hong Kong Ltd's holdings in PTC Therapeutics were worth $513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PTCT. Two Sigma Advisers LP grew its holdings in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company's stock valued at $15,947,000 after purchasing an additional 40,300 shares during the last quarter. Sphera Funds Management LTD. increased its stake in shares of PTC Therapeutics by 25.5% in the third quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company's stock valued at $4,391,000 after purchasing an additional 24,027 shares during the period. State Street Corp grew its holdings in PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock worth $107,554,000 after buying an additional 149,700 shares in the last quarter. Point72 Asset Management L.P. increased its position 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 acquiring an additional 643,960 shares during the period. Finally, Parkman Healthcare Partners LLC acquired a new position in PTC Therapeutics during the 3rd quarter worth $7,234,000.

PTC Therapeutics Trading Up 4.8 %

PTCT traded up $2.24 during trading on Monday, hitting $48.61. The stock had a trading volume of 599,049 shares, compared to its average volume of 850,637. The company has a 50 day simple moving average of $42.72 and a 200-day simple moving average of $37.18. The firm has a market cap of $3.75 billion, a PE ratio of -8.15 and a beta of 0.63. PTC Therapeutics, Inc. has a 12 month low of $23.58 and a 12 month high of $54.16.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PTCT shares. StockNews.com raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. Raymond James initiated coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a "market perform" rating for the company. UBS Group increased their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $54.08.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 85,600 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was 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 in the company, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Christine Marie Utter sold 17,800 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total value 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. This 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.

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.