PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter Sells 1,291 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 1,291 shares of the business’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 $58,533.94. Following the completion of the transaction, the chief accounting officer now directly owns 65,983 shares of the company’s stock, valued at $2,991,669.22. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Christine Marie Utter also recently made the following trade(s):

• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The shares were sold at an average price of $51.77, for a total value of $921,506.00.

PTC Therapeutics Stock Down 2.4 %

NASDAQ:PTCT opened at $43.94 on Friday. PTC Therapeutics, Inc. has a twelve month low of $23.58 and a twelve month high of $54.16. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62. The stock’s 50 day moving average price is $45.19 and its two-hundred day moving average price is $38.44.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Point72 Asset Management L.P. lifted its stake in PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after purchasing an additional 643,960 shares during the last quarter. Armistice Capital LLC boosted its stake in shares of 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 acquiring an additional 198,227 shares during the period. Parkman Healthcare Partners LLC acquired a new position in shares of PTC Therapeutics during the 3rd quarter worth approximately $7,234,000. Ensign Peak Advisors Inc raised its stake in PTC Therapeutics by 650.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock valued at $6,370,000 after acquiring an additional 180,561 shares during the period. Finally, Millennium Management LLC lifted its holdings in PTC Therapeutics by 123.2% during the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after purchasing an additional 175,289 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PTCT shares. Citigroup lifted their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $45.00 to $67.00 in a report on Friday, December 13th. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted 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. Three analysts have rated the stock with a sell rating, four have assigned 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, 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.