PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein Sells 3,361 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 3,361 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of 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 filing with the SEC, which is available at this link.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $25.97 on Tuesday. The stock has a market capitalization of $1.99 billion, a P/E ratio of -3.11 and a beta of 0.67. The business has a 50-day moving average of $28.08 and a two-hundred day moving average of $25.71. PTC Therapeutics, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.53). The company had revenue of $307.06 million during the quarter, compared to analysts’ expectations of $315.90 million. As a group, research analysts expect that PTC Therapeutics, Inc. will post -5.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PTCT shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of PTC Therapeutics in a research report on Friday, April 12th. Royal Bank of Canada increased their target price on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, March 1st. Jefferies Financial Group boosted their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, TD Cowen cut their price objective on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $33.53.

Institutional Trading of PTC Therapeutics

Large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in PTC Therapeutics by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock worth $270,546,000 after acquiring an additional 380,415 shares during the period. Vanguard Group Inc. increased its stake in shares of PTC Therapeutics by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock worth $242,551,000 after purchasing an additional 855,354 shares during the period. RTW Investments LP lifted its position in shares of PTC Therapeutics by 2.6% during the 4th quarter. RTW Investments LP now owns 7,423,970 shares of the biopharmaceutical company’s stock worth $204,605,000 after purchasing an additional 188,774 shares during the last quarter. Armistice Capital LLC boosted its stake in PTC Therapeutics by 11.6% during the 4th quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock valued at $189,172,000 after purchasing an additional 714,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in PTC Therapeutics by 10.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock valued at $25,160,000 after buying an additional 104,024 shares during the last quarter.

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.