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

Victory Capital Management Inc. decreased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,216 shares of the biopharmaceutical company’s stock after selling 227 shares during the period. Victory Capital Management Inc.’s holdings in PTC Therapeutics were worth $416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $521,000. Charles Schwab Investment Management Inc. raised 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 acquiring an additional 47,902 shares during the last quarter. Two Sigma Advisers LP raised its position in PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after acquiring an additional 40,300 shares during the last quarter. Intech Investment Management LLC acquired a new position in PTC Therapeutics during the third quarter worth about $698,000. Finally, Proficio Capital Partners LLC acquired a new position in PTC Therapeutics during the fourth quarter worth about $758,000.

PTC Therapeutics Stock Performance

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 firm has a 50 day moving average price of $49.78 and a 200 day moving average price of $44.33. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -9.62 and a beta of 0.66.

Insider Activity at PTC Therapeutics

In related news, Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. The trade was a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the sale, the vice president now owns 103,901 shares of the company’s stock, valued at approximately $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,391 shares of company stock worth $2,172,927. 5.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. 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 target price for the company. UBS Group lifted their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Finally, Robert W. Baird lifted their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

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.