Voloridge Investment Management LLC Sells 92,168 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Voloridge Investment Management LLC lowered its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 568,364 shares of the biopharmaceutical company's stock after selling 92,168 shares during the quarter. Voloridge Investment Management LLC owned 0.74% of PTC Therapeutics worth $25,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after buying an additional 53,688 shares during the period. Toronto Dominion Bank purchased a new position in PTC Therapeutics in the fourth quarter valued at about $148,363,000. Janus Henderson Group PLC grew its position in shares of PTC Therapeutics by 24.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after acquiring an additional 455,698 shares during the period. Point72 Asset Management L.P. increased its stake in shares of PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock worth $65,153,000 after purchasing an additional 867,502 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of PTC Therapeutics by 34.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company's stock worth $48,652,000 after purchasing an additional 273,638 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their price objective on PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a report on Tuesday. Royal Bank of Canada upped their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Scotiabank started 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. Citigroup raised shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and lowered their price target for the company from $50.00 to $40.00 in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $63.75.

PTC Therapeutics Trading Up 5.1%

Shares of PTCT traded up $2.35 during mid-day trading on Tuesday, reaching $48.28. 251,950 shares of the stock traded hands, compared to its average volume of 856,019. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -8.11 and a beta of 0.52. The firm has a fifty day moving average price of $47.17 and a 200 day moving average price of $47.42.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same quarter in the prior year, the company earned ($1.20) earnings per share. PTC Therapeutics's revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, 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 transaction of $63,369.60. Following the sale, the director now owns 19,118 shares in the company, valued at $984,959.36. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total value of $827,269.30. Following the transaction, the vice president now owns 103,901 shares in the company, valued at $5,537,923.30. This trade represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,264 shares of company stock valued at $1,469,137 over the last three months. 5.50% of the stock is owned by corporate insiders.

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.