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

Russell Investments Group Ltd. cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,120 shares of the biopharmaceutical company's stock after selling 29,319 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.25% of PTC Therapeutics worth $5,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PTC Therapeutics by 12.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the biopharmaceutical company's stock valued at $302,000 after purchasing an additional 1,509 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $114,000 after purchasing an additional 559 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 valued at $43,000 after purchasing an additional 969 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in PTC Therapeutics by 5.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company's stock worth $424,000 after acquiring an additional 922 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in PTC Therapeutics by 2.4% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 29,115 shares of the biopharmaceutical company's stock worth $652,000 after acquiring an additional 692 shares during the last quarter.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. 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 report on Friday, March 1st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $45.00 price target on shares of PTC Therapeutics in a research note on Friday, April 12th. Jefferies Financial Group increased their price target on PTC Therapeutics from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Royal Bank of Canada increased their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a "sector perform" rating in a research note on Friday, March 1st. Finally, Morgan Stanley raised shares of PTC Therapeutics from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $28.00 to $30.00 in a research note on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $33.67.

PTC Therapeutics Stock Performance

PTC Therapeutics stock traded up $1.20 during midday trading on Friday, hitting $32.25. 590,683 shares of the company's stock were exchanged, compared to its average volume of 966,989. PTC Therapeutics, Inc. has a 12 month low of $17.53 and a 12 month high of $59.84. The company has a market cap of $2.47 billion, a PE ratio of -4.20 and a beta of 0.63. The firm has a 50-day moving average of $29.12 and a two-hundred day moving average of $26.47.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to analysts' expectations of $160.27 million. As a group, equities analysts expect that PTC Therapeutics, Inc. will post -5.36 earnings per share for the current year.

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.