Russell Investments Group Ltd. Sells 61,542 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Russell Investments Group Ltd. decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 26.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,697 shares of the biopharmaceutical company's stock after selling 61,542 shares during the period. Russell Investments Group Ltd. owned about 0.22% of PTC Therapeutics worth $7,705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PTCT. Vanguard Group Inc. raised its holdings in PTC Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after acquiring an additional 53,688 shares during the period. State Street Corp raised its stake in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after purchasing an additional 149,700 shares during the period. Geode Capital Management LLC lifted its holdings in PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock worth $66,743,000 after purchasing an additional 10,886 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock valued at $33,241,000 after buying an additional 381,319 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in PTC Therapeutics by 62.9% during the 4th quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock valued at $16,325,000 after buying an additional 139,596 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently commented on PTCT. Morgan Stanley reaffirmed an "overweight" rating and set a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Cantor Fitzgerald upped their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Finally, StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.77.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded up $0.98 during mid-day trading on Friday, reaching $47.39. 1,036,666 shares of the company's stock traded hands, compared to its average volume of 821,653. The company has a 50 day moving average price of $50.22 and a 200-day moving average price of $46.01. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -7.98 and a beta of 0.58. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $58.38.

Insider Activity

In related news, Director Allan Steven Jacobson sold 1,230 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total transaction of $63,369.60. Following the transaction, the director now owns 19,118 shares in the company, valued at $984,959.36. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $270,000.00. Following the completion of the sale, the director now owns 8,867 shares of the company's stock, valued at $478,818. This trade represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,501 shares of company stock valued at $1,546,088. Company insiders own 5.50% of the company's stock.

PTC Therapeutics 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.