PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $72,498.66 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,599 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $72,498.66. Following the completion of the sale, the chief executive officer now owns 88,941 shares in the company, valued at $4,032,584.94. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

PTC Therapeutics Stock Down 2.4 %

Shares of PTCT stock opened at $43.94 on Friday. The stock’s 50-day moving average price is $45.19 and its 200 day moving average price is $38.47. The stock has a market capitalization of $3.39 billion, a PE ratio of -7.40 and a beta of 0.62. PTC Therapeutics, Inc. has a 52-week low of $23.58 and a 52-week high of $54.16.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PTCT. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 504 shares during the period. CWM LLC raised its position in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 acquiring an additional 492 shares during the period. Quest Partners LLC purchased a new stake in shares of PTC Therapeutics in the second quarter valued at about $128,000. Finally, Quarry LP boosted its holdings in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 2,500 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PTCT shares. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays boosted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Finally, The Goldman Sachs Group increased their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.