PTC Therapeutics, Inc. (NASDAQ:PTCT) Insider Sells $57,355.10 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $57,355.10. Following the completion of the transaction, the insider now owns 104,783 shares of the company’s stock, valued at approximately $4,750,861.22. This represents a 1.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Neil Gregory Almstead also recently made the following trade(s):

• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00.

PTC Therapeutics Price Performance

NASDAQ PTCT traded down $1.10 on Friday, hitting $43.94. The stock had a trading volume of 548,622 shares, compared to its average volume of 529,154. PTC Therapeutics, Inc. has a 52-week low of $23.58 and a 52-week high of $54.16. The business’s fifty day moving average price is $45.12 and its 200 day moving average price is $38.39. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTCT. Choreo LLC raised its holdings in shares of PTC Therapeutics by 4.1% in the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after buying an additional 452 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares in the last quarter. KBC Group NV boosted its holdings in PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares in the last quarter. Arizona State Retirement System grew its position in shares of PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock valued at $590,000 after acquiring an additional 636 shares during the period. Finally, Creative Planning grew its holdings in PTC Therapeutics by 8.1% in the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 816 shares during the period.

Analysts Set New Price Targets

PTCT has been the subject of a number of analyst reports. Barclays raised their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group upped their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $63.00 in a report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus 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.