Insider Selling: PTC Therapeutics (NASDAQ:PTCT) CEO Sells $271,051.96 in Stock

by · The Cerbat Gem

PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) CEO Matthew Klein sold 3,428 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $79.07, for a total value of $271,051.96. Following the transaction, the chief executive officer owned 349,964 shares in the company, valued at approximately $27,671,653.48. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded down $2.74 during trading hours on Wednesday, hitting $75.76. 2,494,957 shares of the stock were exchanged, compared to its average volume of 1,219,656. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50. The company’s 50 day moving average is $70.13 and its 200 day moving average is $57.54. The firm has a market capitalization of $6.08 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.28 and a beta of 0.47.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of ($1.19) by $1.39. The firm had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.39) EPS. Research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 236 shares during the last quarter. Optiver Holding B.V. grew its position in PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares in the last quarter. Comerica Bank increased its position in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 469 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 551 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 320 shares in the last quarter.

Analyst Upgrades and Downgrades

PTCT has been the topic of several recent analyst reports. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, November 5th. TD Cowen raised their price objective on shares of PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $73.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 target price on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Finally, Robert W. Baird set a $70.00 price target on shares of PTC Therapeutics in a research report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.00.

View Our Latest Research Report on PTCT

PTC Therapeutics Company Profile

(Get Free Report)

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.

Further Reading