Matthew B. Klein Sells 8,279 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PTC Therapeutics Trading Up 1.4 %

NASDAQ PTCT traded up $0.66 during trading hours on Friday, reaching $46.54. The company’s stock had a trading volume of 501,601 shares, compared to its average volume of 488,000. The business has a 50-day simple moving average of $44.67 and a 200 day simple moving average of $38.04. PTC Therapeutics, Inc. has a 52 week low of $23.58 and a 52 week high of $54.16. The stock has a market cap of $3.59 billion, a PE ratio of -7.84 and a beta of 0.63.

Institutional Trading of PTC Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC grew its stake in PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after buying an additional 198,227 shares during the last quarter. Cowen AND Company LLC grew its position in shares of PTC Therapeutics by 0.8% during the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock worth $114,873,000 after acquiring an additional 30,843 shares during the last quarter. State Street Corp increased its holdings in shares of PTC Therapeutics by 5.4% in 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 during the period. Geode Capital Management LLC lifted its position 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 purchasing an additional 10,886 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in PTC Therapeutics by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock valued at $25,017,000 after purchasing an additional 56,700 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on PTCT. Robert W. Baird boosted their price target on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating on the stock. Barclays raised their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and an average target price of $54.08.

About PTC Therapeutics

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.