Zurcher Kantonalbank Zurich Cantonalbank Buys 3,450 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,863 shares of the biopharmaceutical company’s stock after acquiring an additional 3,450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PTC Therapeutics were worth $851,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after purchasing an additional 149,700 shares during the period. Geode Capital Management LLC increased its holdings in PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after buying an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after buying an additional 47,902 shares during the period. Point72 Asset Management L.P. raised its stake in shares of PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after buying an additional 643,960 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PTC Therapeutics by 6.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company’s stock worth $17,522,000 after acquiring an additional 26,773 shares during the period.

Insider Activity

In other news, Director Stephanie Okey sold 5,000 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the sale, the director now owns 8,867 shares in the company, valued at $478,818. The trade was a 36.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total transaction of $373,879.64. Following the completion of the transaction, the chief executive officer now owns 217,528 shares in the company, valued at $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,391 shares of company stock valued at $2,172,927. Company insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

PTCT stock opened at $56.63 on Friday. The company has a 50 day moving average price of $49.52 and a 200 day moving average price of $44.10. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.38. The stock has a market capitalization of $4.47 billion, a PE ratio of -9.53 and a beta of 0.66.

Analyst Ratings Changes

PTCT has been the topic of a number of analyst reports. Scotiabank initiated coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. Robert W. Baird increased their target price on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their price objective on PTC Therapeutics from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company lifted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.00.

PTC Therapeutics 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.