PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,216 shares of the biopharmaceutical company’s stock after selling 227 shares during the quarter. Victory Capital Management Inc.’s holdings in PTC Therapeutics were worth $416,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Choreo LLC raised its holdings in shares of PTC Therapeutics by 2.0% in the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock valued at $541,000 after purchasing an additional 240 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 valued at $28,000 after purchasing an additional 270 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 455 shares in the last quarter. KBC Group NV raised its holdings in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PTC Therapeutics by 6.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company’s stock valued at $572,000 after purchasing an additional 884 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Royal Bank of Canada increased their target price 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. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. UBS Group increased their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Barclays increased their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Two 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’s stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $64.00.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $57.14 on Friday. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The company has a market capitalization of $4.51 billion, a P/E ratio of -9.62 and a beta of 0.66. The company’s fifty day moving average is $49.78 and its two-hundred day moving average is $44.33.

Insiders Place Their Bets

In other news, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares of the company’s stock, valued at $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock in a transaction dated 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 directly owns 65,983 shares in the company, valued at approximately $2,991,669.22. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,391 shares of company stock valued at $2,172,927. 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.