Lee Scott Golden Sells 897 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 897 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total transaction of $42,114.15. Following the completion of the sale, the executive vice president now directly owns 75,997 shares of the company’s stock, valued at $3,568,059.15. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lee Scott Golden also recently made the following trade(s):

• On Wednesday, February 19th, Lee Scott Golden sold 795 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.10, for a total value of $39,829.50.
• On Tuesday, January 7th, Lee Scott Golden sold 810 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $36,725.40.

PTC Therapeutics Price Performance

PTCT traded down $3.49 on Friday, hitting $43.24. The company had a trading volume of 1,309,479 shares, compared to its average volume of 798,535. The stock has a fifty day simple moving average of $51.22 and a 200-day simple moving average of $45.56. The firm has a market capitalization of $3.41 billion, a P/E ratio of -7.28 and a beta of 0.58. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $58.38.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PTCT shares. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their price target for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Scotiabank started coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.77.

Institutional Inflows and Outflows

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

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.