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Pinnacle Associates Ltd. Reduces Position in PTC Therapeutics, Inc. (NASDAQ:PTCT) (NASDAQ:PTCT)

Pinnacle Associates Ltd. Reduces Position in PTC Therapeutics, Inc. (NASDAQ:PTCT) (NASDAQ:PTCT)

Pinnacle Associates Ltd. disclosed to the Securities and Exchange Commission in its most recent filing that it has reduced its holdings in PTC Therapeutics, Inc. (NASDAQ: PTCT) by 3.2%. This information relates to the company’s most recent transaction. Pinnacle Associates Ltd. submitted this information as part of their filing, which can be found here. In addition, the total number of shares that the fund currently owns in the biopharmaceutical company has increased to 178,098 due to the successful completion of a transaction in which 5,878 of the company’s shares were sold during the relevant period in question. At the end of the most recent reporting period, Pinnacle Associates Ltd. owned approximately 0.25% of PTC Therapeutics, worth $8,941,000.

In recent transactions involving other large investors, shares of the company were bought and sold on multiple occasions. These transactions took place recently.

During the third quarter, China Universal Asset Management Co. Ltd. made a new investment of $34,000 in PTC Therapeutics shares. This investment was the target of PTC Therapeutics’ shares. PTC Therapeutics shares, with a total value of sixty thousand dollars, were acquired by Focused Wealth Management Inc. during the third quarter of this fiscal year as a new investment. During the second quarter, Shell Asset Management Company acquired an additional 87.1% of shares in PTC Therapeutics, making the company the beneficiary of this increase in ownership. Following the acquisition of an additional 1,362 shares during the most recent quarter, Shell Asset Management Co. now holds 2,925 shares of the biopharmaceutical company’s stock in its portfolio. The holdings of the biopharmaceutical company’s stock that belong to Shell Asset Management Co. have a total value of $117,000 as of right now. During the second quarter, Neo Ivy Capital Management increased its investment in PTC Therapeutics by purchasing an additional 118,000 shares. This brings their total investment in the company to $118,000. During the second quarter, Point72 Hong Kong Ltd added PTC Therapeutics shares worth 161,000 Hong Kong dollars to its existing portfolio, bringing the total value of the company’s holdings to 161,000 Hong Kong dollars.

According to reports from other sources, on January 9, company insider Neil Gregory Almstead sold 716 shares of the company’s stock. This transaction was made public. The shares were sold for a total of $29,828.56 (at an average price of $41.66 per share), which resulted in capital accumulation. When the transaction is complete, the insider will have a direct ownership interest in 65,435 shares of the company’s stock, the total value of which is 2,726,022.10 dollars. You will be able to access additional details regarding the transaction by clicking on the link that has been provided for you below. This link will take you to a document submitted to the Securities and Exchange Commission. On January 11, the company’s Chief Executive Officer, Stuart Walter Peltz, sold 1,189 shares of the company’s stock. This information is related to the previous paragraph. These shares were sold for a total of $52,744.04 at an average price of $44.36 per share, which resulted in this sum of money. Following the conclusion of the transaction, the chief executive officer will be the owner of 169,282 shares in the company.

Taken together, the value of these shares is 7,509,349.52 dollars. You will be able to access additional details regarding the transaction by clicking on the link that has been provided for you below. This link will take you to a document submitted to the Securities and Exchange Commission. In addition, on January 9, corporate insider Neil Gregory Almstead sold 716 shares of the company’s stock. Expenses to the tune of a total of $29,828.56 were incurred as a direct result of the completion of the sale of the shares, which was accomplished at an average price of $41.66. After the completion of the transaction, the insider of the company now directly owns 65,435 shares of the company’s stock, which are worth $2,726,022.10. Simply clicking on this link will take you to more information about the disclaimer associated with this sale. Over the most recent three months, company insiders have been selling company stock, selling 10,977 shares at a total price of $475,203. As a result, the company’s insiders hold control of 6.00% of the total number of shares that are currently outstanding.

As of late, commentary on the PTCT share price has been provided by several different analysts. PTC Therapeutics was given an improved rating from “underweight” to “neutral” by Credit Suisse Group, which was disclosed in a report released on Tuesday. In addition, the company increased the price objective it had set for the stock from $47:00 to $48:00. According to a report distributed on November 1, Cowen has revised its price objective for PTC Therapeutics shares, bringing it down to $45.00. This information was provided in the report. On December 14, a Wednesday, shares of PTC Therapeutics were incorporated into the coverage universe maintained by The Goldman Sachs Group. They gave the stock a ” sell ” rating and suggested a “sell” price of $35.00. Finally, in a research report released on Friday, October 28, Morgan Stanley lowered their price target on shares of PTC Therapeutics from $54.00 to $40.00 and assigned the stock an “equal weight” rating.

Additionally, the firm stated that they have an “equal weight” rating on the stock. Last but not least, on December 1, StockNews.com lowered its recommendation for purchasing shares of PTC Therapeutics to “hold” from its previous “buy” rating. Five analysts have given a buy rating to the stock; five other analysts have recommended that investors hold onto their shares; and one analyst has suggested that investors sell their shares. PTC Therapeutics is currently rated “Hold,” and the g

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