Proficio Capital Partners LLC Invests $758,000 in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Proficio Capital Partners LLC bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,792 shares of the biopharmaceutical company's stock, valued at approximately $758,000.

Several other hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after buying an additional 149,700 shares during the period. Geode Capital Management LLC lifted its stake in shares of PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock valued at $66,743,000 after purchasing an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after purchasing an additional 47,902 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of PTC Therapeutics by 945.6% during the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company's stock worth $21,364,000 after purchasing an additional 643,960 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in PTC Therapeutics by 6.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company's stock valued at $17,522,000 after purchasing an additional 26,773 shares during the last quarter.

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Insider Activity at PTC Therapeutics

In other news, Director Stephanie Okey sold 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares in the company, valued at $478,818. This trade represents a 36.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 1,543 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $69,959.62. Following the sale, the vice president now owns 108,846 shares in the company, valued at $4,935,077.64. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,391 shares of company stock valued at $2,172,927. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Down 1.7 %

Shares of NASDAQ PTCT traded down $0.96 during midday trading on Wednesday, reaching $55.31. The company's stock had a trading volume of 613,065 shares, compared to its average volume of 738,305. The stock has a 50 day simple moving average of $50.33 and a 200-day simple moving average of $44.76. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -9.31 and a beta of 0.66. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PTCT. Citigroup raised their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. StockNews.com cut shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Robert W. Baird upped their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

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.