Charles Schwab Investment Management Inc. trimmed its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 685,709 shares of the biopharmaceutical company's stock after selling 21,021 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.89% of PTC Therapeutics worth $30,953,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 78.7% in the 4th 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. Proficio Capital Partners LLC bought a new stake in PTC Therapeutics in the fourth quarter valued at $758,000. Hussman Strategic Advisors Inc. purchased a new position in PTC Therapeutics during the 4th quarter valued at $948,000. Ieq Capital LLC bought a new position in PTC Therapeutics in the 4th quarter worth $230,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics in the 4th quarter worth about $68,000.
PTC Therapeutics Stock Performance
Shares of PTCT stock traded down $0.30 during mid-day trading on Thursday, hitting $56.68. The company's stock had a trading volume of 289,714 shares, compared to its average volume of 732,341. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -9.54 and a beta of 0.66. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $58.92. The business has a 50-day moving average price of $49.29 and a 200 day moving average price of $44.01.
Analyst Upgrades and Downgrades
PTCT has been the topic of several research analyst reports. Robert W. Baird boosted their price target 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. Barclays increased their target price on PTC Therapeutics from $45.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Finally, Royal Bank of Canada lifted their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.00.
Get Our Latest Stock Analysis on PTCT
Insider Buying and Selling
In related news, CEO Matthew B. Klein sold 8,279 shares of the company's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total transaction of $373,879.64. Following the completion of the sale, the chief executive officer now owns 217,528 shares in the company, valued at approximately $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the transaction, the vice president now directly owns 103,901 shares in the company, valued at $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,391 shares of company stock worth $2,172,927. 5.50% of the stock is owned by corporate insiders.
About PTC Therapeutics
(
Free Report)
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.
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