PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,109 shares of the biopharmaceutical company's stock after selling 8,111 shares during the quarter. Candriam S.C.A. owned approximately 0.21% of PTC Therapeutics worth $7,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PTCT. Creative Planning grew its stake in PTC Therapeutics by 8.1% in the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company's stock worth $406,000 after purchasing an additional 816 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in PTC Therapeutics by 7.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 56,820 shares of the biopharmaceutical company's stock worth $2,108,000 after buying an additional 3,727 shares during the period. Los Angeles Capital Management LLC lifted its holdings in PTC Therapeutics by 40.0% during the third quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company's stock worth $561,000 after buying an additional 4,325 shares during the period. KBC Group NV lifted its holdings in PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock worth $83,000 after buying an additional 504 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in PTC Therapeutics during the third quarter worth $1,450,000.

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Insider Buying and Selling

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,230 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total transaction of $63,369.60. Following the sale, the director now directly owns 19,118 shares of the company's stock, valued at approximately $984,959.36. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the sale, the chief executive officer now directly owns 217,528 shares in the company, valued at $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,870 shares of company stock worth $1,075,657 in the last 90 days. Insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

PTCT stock traded up $0.10 during midday trading on Tuesday, reaching $52.59. The stock had a trading volume of 833,010 shares, compared to its average volume of 742,947. The stock has a market cap of $4.15 billion, a PE ratio of -8.85 and a beta of 0.66. The firm has a fifty day simple moving average of $47.99 and a two-hundred day simple moving average of $43.11. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $55.60.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PTCT. Robert W. Baird upped their target price on PTC Therapeutics from $52.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Bank of America upgraded 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 report on Tuesday. StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Scotiabank began coverage on PTC Therapeutics in a report on Friday. They set a "sector perform" rating and a $55.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on PTC Therapeutics from $74.00 to $72.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $63.54.

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.