PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Vestal Point Capital LP

Vestal Point Capital LP lowered its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,000 shares of the biopharmaceutical company’s stock after selling 10,000 shares during the period. Vestal Point Capital LP owned approximately 0.10% of PTC Therapeutics worth $2,968,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV boosted its holdings in shares of 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 acquiring an additional 504 shares in the last quarter. CWM LLC lifted its position in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 492 shares in the last quarter. Quest Partners LLC acquired a new position in PTC Therapeutics during the 2nd quarter worth approximately $128,000. Finally, Quarry LP raised its stake in shares of PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 2,500 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price objective on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. UBS Group started coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They issued a “buy” rating and a $47.00 price target for the company. Morgan Stanley boosted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. Finally, Wells Fargo & Company boosted their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics has an average rating of “Hold” and an average price target of $44.69.

PTC Therapeutics Stock Down 2.0 %

PTC Therapeutics stock opened at $45.11 on Friday. PTC Therapeutics, Inc. has a 12-month low of $21.10 and a 12-month high of $47.24. The firm’s 50-day moving average is $40.07 and its two-hundred day moving average is $36.18.

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.