PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,178,822 shares of the biopharmaceutical company's stock after purchasing an additional 53,688 shares during the period. Vanguard Group Inc. owned approximately 11.90% of PTC Therapeutics worth $414,332,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Smartleaf Asset Management LLC raised its position in PTC Therapeutics by 78.7% during 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. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics during the fourth quarter worth $68,000. R Squared Ltd purchased a new position in PTC Therapeutics in the fourth quarter worth $79,000. KBC Group NV raised its position in PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after acquiring an additional 813 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in PTC Therapeutics in the fourth quarter valued at $210,000.

Insider Buying and Selling at PTC Therapeutics

In other news, CEO Eric Pauwels sold 1,599 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $72,498.66. Following the completion of the transaction, the chief executive officer now owns 88,941 shares of the company's stock, valued at $4,032,584.94. This represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christine Marie Utter sold 1,291 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the sale, the chief accounting officer now owns 65,983 shares of the company's stock, valued at approximately $2,991,669.22. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,009 shares of company stock worth $1,841,161. Insiders own 5.50% of the company's stock.

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PTC Therapeutics Stock Down 1.0 %

Shares of NASDAQ:PTCT traded down $0.42 during trading on Monday, reaching $42.82. The stock had a trading volume of 1,260,596 shares, compared to its average volume of 801,535. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38. The business has a fifty day moving average price of $51.16 and a 200-day moving average price of $45.75. The stock has a market cap of $3.38 billion, a P/E ratio of -7.21 and a beta of 0.58.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Citigroup upped their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald lifted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $63.77.

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.