Wellington Management Group LLP Sells 315,807 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Wellington Management Group LLP lessened its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,892,799 shares of the biopharmaceutical company's stock after selling 315,807 shares during the quarter. Wellington Management Group LLP owned about 10.23% of PTC Therapeutics worth $292,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Two Sigma Advisers LP grew its position in PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company's stock worth $15,947,000 after acquiring an additional 40,300 shares in the last quarter. Sphera Funds Management LTD. lifted its stake in PTC Therapeutics by 25.5% during the third quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company's stock worth $4,391,000 after purchasing an additional 24,027 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 purchasing an additional 149,700 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of PTC Therapeutics by 945.6% during 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. Finally, Parkman Healthcare Partners LLC bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at about $7,234,000.

Analyst Ratings Changes

Several analysts have issued reports on PTCT shares. Baird R W raised PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Citigroup upped their price objective on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a "sell" rating in a research note on Wednesday. Robert W. Baird lifted their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Raymond James started coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They set a "market perform" rating for the company. Finally, Royal Bank of Canada upgraded PTC Therapeutics from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $39.00 to $63.00 in a report on Tuesday, December 3rd. Three 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $52.38.

PTC Therapeutics Trading Down 0.7 %

Shares of PTCT stock traded down $0.36 during trading hours on Friday, reaching $48.04. The company's stock had a trading volume of 481,891 shares, compared to its average volume of 929,625. PTC Therapeutics, Inc. has a one year low of $23.58 and a one year high of $54.16. The stock has a market capitalization of $3.71 billion, a P/E ratio of -8.09 and a beta of 0.63. The firm's fifty day simple moving average is $41.49 and its 200 day simple moving average is $36.78.

Insider Activity at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00. Following the completion of the transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock in a transaction that occurred 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 sale, the chief accounting officer now owns 52,428 shares in the company, 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 have sold a total of 196,950 shares of company stock worth $10,251,735 over the last quarter. Corporate 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.