Wellington Management Group LLP Sells 3,105,676 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Wellington Management Group LLP lessened its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 39.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 about 6.07% of PTC Therapeutics worth $216,091,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of PTC Therapeutics during the 4th quarter valued at $68,000. R Squared Ltd purchased a new position in shares of PTC Therapeutics in the 4th quarter worth $79,000. KBC Group NV grew its holdings in shares of PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 813 shares during the period. Finally, Savant Capital LLC bought a new stake in shares of PTC Therapeutics in the fourth quarter worth $210,000.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,230 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the sale, the director now owns 19,118 shares of the company’s stock, valued at $984,959.36. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the sale, the director now directly owns 8,867 shares in the company, valued at $478,818. This trade represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,112 shares of company stock worth $1,799,047. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

PTC Therapeutics stock opened at $48.37 on Thursday. The firm’s 50 day moving average price is $51.27 and its 200-day moving average price is $45.48. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The stock has a market cap of $3.81 billion, a P/E ratio of -8.14 and a beta of 0.58.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PTCT. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Scotiabank assumed coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday. Citigroup lifted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald upped their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.77.

PTC Therapeutics Company 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.