Wellington Management Group LLP Trims Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Wellington Management Group LLP lowered its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 39.3% in the 4th quarter, Holdings Channel reports. The firm owned 4,787,123 shares of the biopharmaceutical company’s stock after selling 3,105,676 shares during the quarter. Wellington Management Group LLP owned 0.06% of PTC Therapeutics worth $216,091,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Arizona State Retirement System lifted its stake in shares of PTC Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock worth $907,000 after acquiring an additional 219 shares during the last quarter. Choreo LLC lifted its position in shares of PTC Therapeutics by 2.0% during the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock worth $541,000 after purchasing an additional 240 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 270 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of PTC Therapeutics by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 455 shares during the last quarter. Finally, Xponance Inc. increased its stake in PTC Therapeutics by 10.4% in the 4th quarter. Xponance Inc. now owns 6,058 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 570 shares during the period.

PTC Therapeutics Trading Up 3.8 %

Shares of PTCT opened at $48.37 on Thursday. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $58.38. The stock has a fifty day moving average price of $51.27 and a 200-day moving average price of $45.48. The firm has a market cap of $3.81 billion, a PE ratio of -8.14 and a beta of 0.58.

Insider Buying and Selling at PTC Therapeutics

In other news, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.00, for a total transaction of $270,000.00. Following the transaction, the director now owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the transaction, the vice president now directly owns 103,901 shares of the company’s stock, valued at $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,112 shares of company stock worth $1,799,047. 5.50% of the stock is owned by insiders.

Analysts Set New Price Targets

PTCT has been the topic of a number of research analyst reports. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Morgan Stanley restated an “overweight” rating and set a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Cantor Fitzgerald increased their price target on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Citigroup raised their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group increased their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $63.77.

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.