Vanguard Group Inc. Buys 53,688 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Vanguard Group Inc. lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,178,822 shares of the biopharmaceutical company’s stock after buying an additional 53,688 shares during the quarter. Vanguard Group Inc. owned approximately 11.90% of PTC Therapeutics worth $414,332,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PTCT. Arizona State Retirement System lifted its stake in PTC Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock worth $907,000 after purchasing an additional 219 shares in the last quarter. Choreo LLC raised its position in shares of PTC Therapeutics by 2.0% in the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock worth $541,000 after buying an additional 240 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 270 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in PTC Therapeutics by 8.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 455 shares during the period. Finally, Xponance Inc. grew its position in PTC Therapeutics by 10.4% during the fourth quarter. Xponance Inc. now owns 6,058 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 570 shares in the last quarter.

Insider Activity

In other PTC Therapeutics news, CEO Eric Pauwels sold 1,599 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $72,498.66. Following the transaction, the chief executive officer now directly owns 88,941 shares of the company’s stock, valued at approximately $4,032,584.94. The trade was 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, CAO Christine Marie Utter sold 1,291 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the transaction, the chief accounting officer now owns 65,983 shares of the company’s stock, valued at $2,991,669.22. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,112 shares of company stock valued at $1,799,047. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

PTCT has been the subject of a number of research analyst reports. 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. Cantor Fitzgerald lifted their target price 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. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Citigroup lifted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Finally, Bank of America raised 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 note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

PTC Therapeutics Stock Up 3.8 %

NASDAQ:PTCT opened at $48.37 on Thursday. The firm has a market capitalization of $3.81 billion, a P/E ratio of -8.14 and a beta of 0.58. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $58.38. The company has a fifty day moving average of $51.27 and a 200 day moving average of $45.48.

PTC Therapeutics Company 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.