Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) Insider Sells 1,300 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,300 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $65,130.00. Following the completion of the transaction, the insider now owns 101,931 shares in the company, valued at $5,106,743.10. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, January 7th, Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $57,355.10.
• 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 Trading Up 0.6 %

Shares of PTCT stock traded up $0.31 during trading hours on Friday, reaching $50.69. 423,037 shares of the stock were exchanged, compared to its average volume of 686,683. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $54.16. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. The company’s 50-day moving average price is $46.58 and its 200-day moving average price is $41.35.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PTCT. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group increased their price objective 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. Barclays lifted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price target on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald lifted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.85.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PTCT. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 270 shares during the period. Sterling Capital Management LLC grew its position in PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 522 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the fourth quarter worth $68,000. GF Fund Management CO. LTD. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in PTC Therapeutics in the 4th quarter worth about $77,000.

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.