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PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Y Intercept Hong Kong Ltd


PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 57.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PTCT. Armistice Capital LLC raised its holdings in shares of PTC Therapeutics by 2.9% during the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company's stock valued at $212,905,000 after buying an additional 198,227 shares during the last quarter. Cowen AND Company LLC increased its position in PTC Therapeutics by 0.8% in the 2nd quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company's stock valued at $114,873,000 after acquiring an additional 30,843 shares during the period. State Street Corp raised its stake in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after acquiring an additional 149,700 shares in the last quarter. Renaissance Technologies LLC boosted its position in PTC Therapeutics by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company's stock worth $25,017,000 after acquiring an additional 56,700 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after purchasing an additional 47,902 shares in the last quarter.

NASDAQ PTCT opened at $46.37 on Monday. PTC Therapeutics, Inc. has a 1 year low of $23.58 and a 1 year high of $54.16. The business's fifty day moving average is $42.72 and its two-hundred day moving average is $37.18. The stock has a market capitalization of $3.58 billion, a P/E ratio of -7.81 and a beta of 0.63.

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Citigroup boosted their price target on shares of PTC Therapeutics from $26.00 to $32.00 and gave the stock a "sell" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. Baird R W upgraded shares of PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Finally, Barclays boosted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $54.08.

Get Our Latest Stock Report on PTCT

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 69,550 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jerome B. Zeldis sold 24,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the completion of the transaction, the director now owns 14,500 shares of the company's stock, valued at approximately $746,750. The trade was a 62.34 % decrease in their ownership of the stock. 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 three months. 5.50% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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