PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 12.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,977 shares of the biopharmaceutical company's stock after selling 18,425 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.17% of PTC Therapeutics worth $4,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Choreo LLC grew its holdings in PTC Therapeutics by 4.1% in the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company's stock valued at $356,000 after buying an additional 452 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock worth $104,000 after acquiring an additional 492 shares during the last quarter. KBC Group NV grew 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 purchasing an additional 504 shares during the period. Arizona State Retirement System increased its position in PTC Therapeutics by 3.4% during the second quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company's stock worth $590,000 after purchasing an additional 636 shares during the last quarter. Finally, Creative Planning raised its stake in PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company's stock worth $406,000 after purchasing an additional 816 shares during the period.

Analyst Ratings Changes

PTCT has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a "sell" rating in a research note on Wednesday, December 4th. UBS Group upped their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. StockNews.com raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating in a research report on Wednesday, December 4th. Finally, Barclays raised their price target 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 assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $52.38.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 85,600 shares of the business'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 completion of the sale, the vice president now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now directly owns 86,202 shares of the company's stock, valued at approximately $4,487,676.12. This represents a 44.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,950 shares of company stock worth $10,251,735 in the last ninety days. 5.50% of the stock is owned by insiders.

PTC Therapeutics Stock Down 4.7 %

Shares of PTC Therapeutics stock traded down $2.31 on Thursday, hitting $47.36. 622,309 shares of the company's stock traded hands, compared to its average volume of 852,340. PTC Therapeutics, Inc. has a 52-week low of $23.58 and a 52-week high of $54.16. The stock has a market cap of $3.65 billion, a P/E ratio of -7.97 and a beta of 0.63. The firm's 50-day moving average is $42.25 and its 200 day moving average is $37.03.

PTC Therapeutics 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.