Thrivent Financial for Lutherans Sells 18,759 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Thrivent Financial for Lutherans reduced its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 48.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,339 shares of the biopharmaceutical company's stock after selling 18,759 shares during the quarter. Thrivent Financial for Lutherans' holdings in PTC Therapeutics were worth $919,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PTCT. Point72 Asset Management L.P. lifted its stake in PTC Therapeutics by 945.6% in the 3rd 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 in the last quarter. Parkman Healthcare Partners LLC bought a new position in shares of PTC Therapeutics in the third quarter worth $7,234,000. State Street Corp raised its position in shares of PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock worth $107,554,000 after buying an additional 149,700 shares in the last quarter. Raymond James Financial Inc. bought a new stake in PTC Therapeutics during the fourth quarter valued at $2,200,000. Finally, Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after buying an additional 47,902 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PTCT shares. StockNews.com downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. 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 price objective for the company. Finally, Royal Bank of Canada increased their target price on PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $63.77.

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PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded down $3.49 during mid-day trading on Friday, hitting $43.24. The stock had a trading volume of 1,309,479 shares, compared to its average volume of 799,625. The business has a 50 day moving average price of $51.22 and a two-hundred day moving average price of $45.70. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The firm has a market cap of $3.41 billion, a P/E ratio of -7.28 and a beta of 0.58.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Eric Pauwels sold 1,599 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $72,498.66. Following the completion of the transaction, the chief executive officer now directly owns 88,941 shares in the company, valued at approximately $4,032,584.94. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Scott Golden sold 897 shares of PTC Therapeutics stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total transaction of $42,114.15. Following the sale, the executive vice president now directly owns 75,997 shares in the company, valued at $3,568,059.15. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,009 shares of company stock worth $1,841,161 in the last 90 days. Company insiders own 5.50% of the company's stock.

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.