PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 685,709 shares of the biopharmaceutical company’s stock after selling 21,021 shares during the period. Charles Schwab Investment Management Inc. owned 0.89% of PTC Therapeutics worth $30,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 270 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $758,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at approximately $948,000. Ieq Capital LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at approximately $230,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at approximately $68,000.

PTC Therapeutics Stock Up 3.3 %

NASDAQ:PTCT opened at $54.50 on Monday. The company has a fifty day simple moving average of $48.60 and a two-hundred day simple moving average of $43.63. The company has a market cap of $4.30 billion, a price-to-earnings ratio of -9.18 and a beta of 0.66. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $55.65.

Analysts Set New Price Targets

PTCT has been the topic of several analyst reports. Robert W. Baird lifted 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. Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Citigroup lifted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Finally, Scotiabank assumed coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Check Out Our Latest Stock Report on PTCT

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,521 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matthew B. Klein sold 8,279 shares of the business’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 transaction, the chief executive officer now owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,391 shares of company stock worth $1,902,927 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Company Profile

(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.

See Also

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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