PTC Therapeutics, Inc. (NASDAQ:PTCT) Position Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,120 shares of the biopharmaceutical company’s stock after selling 29,319 shares during the period. Russell Investments Group Ltd. owned about 0.25% of PTC Therapeutics worth $5,267,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PTCT. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PTC Therapeutics by 12.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 1,509 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in PTC Therapeutics by 12.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 559 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in PTC Therapeutics by 99.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 969 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in PTC Therapeutics by 5.1% during the third quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 922 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in PTC Therapeutics by 2.4% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 29,115 shares of the biopharmaceutical company’s stock worth $652,000 after buying an additional 692 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on PTCT shares. Royal Bank of Canada raised their target price on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Morgan Stanley raised shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $28.00 to $30.00 in a research note on Monday, April 29th. Jefferies Financial Group raised their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. TD Cowen decreased their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.67.

Insider Buying and Selling

In related news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction on Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the transaction, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,849 shares of company stock worth $124,107 in the last quarter. 5.30% of the stock is currently owned by company insiders.

PTC Therapeutics Trading Down 0.3 %

PTC Therapeutics stock opened at $31.05 on Friday. The company has a market capitalization of $2.38 billion, a P/E ratio of -4.04 and a beta of 0.63. The firm’s fifty day simple moving average is $29.12 and its 200-day simple moving average is $26.47. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to the consensus estimate of $160.27 million. On average, equities research analysts predict that PTC Therapeutics, Inc. will post -5.36 earnings per share for the current year.

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.