Russell Investments Group Ltd. Lowers Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Russell Investments Group Ltd. decreased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 26.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 170,697 shares of the biopharmaceutical company’s stock after selling 61,542 shares during the quarter. Russell Investments Group Ltd.’s holdings in PTC Therapeutics were worth $7,705,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after acquiring an additional 149,700 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $66,743,000 after purchasing an additional 10,886 shares during the period. Diversified Trust Co boosted its stake in shares of PTC Therapeutics by 10.4% during the fourth quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock valued at $759,000 after purchasing an additional 1,578 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings 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, KBC Group NV raised its stake in PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 813 shares in the last quarter.

Analyst Ratings Changes

PTCT has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Scotiabank assumed coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price objective on the stock. Citigroup boosted their target price 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. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $63.77.

PTC Therapeutics Trading Up 6.7 %

NASDAQ PTCT opened at $42.98 on Friday. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $58.38. The company has a fifty day simple moving average of $50.48 and a two-hundred day simple moving average of $45.82. The stock has a market cap of $3.39 billion, a P/E ratio of -7.24 and a beta of 0.58.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the sale, the director now owns 8,867 shares in the company, valued at approximately $478,818. The trade was a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan Steven Jacobson sold 1,230 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares of the company’s stock, valued at approximately $984,959.36. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,501 shares of company stock valued at $1,546,088 in the last ninety days. Company insiders own 5.50% of the company’s stock.

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.