PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Position Increased by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 66.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,150 shares of the biopharmaceutical company's stock after purchasing an additional 24,090 shares during the period. American Century Companies Inc. owned approximately 0.08% of PTC Therapeutics worth $2,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings 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 worth $28,000 after buying an additional 270 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at approximately $68,000. R Squared Ltd bought a new stake in shares of PTC Therapeutics in the 4th quarter worth about $79,000. KBC Group NV raised its stake 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 valued at $137,000 after acquiring an additional 813 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in PTC Therapeutics in the fourth quarter worth $210,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on PTCT shares. Citigroup boosted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Bank of America upgraded PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. Scotiabank assumed coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 target price for the company. Morgan Stanley reiterated an "overweight" rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Finally, Cantor Fitzgerald raised their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $63.77.

Insider Activity

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,230 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares of the company's stock, valued at approximately $984,959.36. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the business's stock in a transaction 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 transaction, the vice president now owns 103,901 shares of the company's stock, valued at $5,537,923.30. This represents a 13.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,501 shares of company stock worth $1,546,088 over the last quarter. Insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

Shares of PTCT stock traded up $2.69 on Friday, reaching $42.98. The stock had a trading volume of 1,488,774 shares, compared to its average volume of 816,833. The stock has a market cap of $3.39 billion, a P/E ratio of -7.24 and a beta of 0.58. The company has a 50 day simple moving average of $50.48 and a 200 day simple moving average of $45.82. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38.

About PTC Therapeutics

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.