PTC Therapeutics (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 52,003 Shares

by · The Cerbat Gem

PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) insider Neil Gregory Almstead sold 52,003 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total value of $3,590,287.12. Following the completion of the transaction, the insider owned 60,137 shares of the company’s stock, valued at $4,151,858.48. This trade represents a 46.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Thursday, March 5th, Neil Gregory Almstead sold 3,989 shares of PTC Therapeutics stock. The shares were sold at an average price of $63.38, for a total value of $252,822.82.
  • On Wednesday, February 18th, Neil Gregory Almstead sold 65 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $4,508.40.
  • On Wednesday, February 18th, Neil Gregory Almstead sold 3,056 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total transaction of $211,964.16.
  • On Thursday, January 8th, Neil Gregory Almstead sold 59 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.45, for a total transaction of $4,510.55.
  • On Thursday, January 8th, Neil Gregory Almstead sold 881 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total transaction of $67,352.45.
  • On Wednesday, January 7th, Neil Gregory Almstead sold 52 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total transaction of $4,028.96.
  • On Wednesday, January 7th, Neil Gregory Almstead sold 1,026 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total transaction of $79,494.48.
  • On Tuesday, January 6th, Neil Gregory Almstead sold 54 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total value of $4,155.30.
  • On Tuesday, January 6th, Neil Gregory Almstead sold 1,279 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total value of $98,419.05.

PTC Therapeutics Price Performance

Shares of PTCT opened at $67.77 on Friday. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 8.76 and a beta of 0.55. The stock’s 50-day moving average price is $69.06 and its 200-day moving average price is $70.98.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The company had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter in the prior year, the business posted ($0.85) earnings per share. The firm’s revenue was down 22.7% compared to the same quarter last year. As a group, equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the company from $91.00 to $76.00 in a report on Monday, March 30th. Royal Bank Of Canada reduced their price target on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a report on Friday, February 20th. Wells Fargo & Company dropped their price objective on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Barclays restated an “overweight” rating and issued a $120.00 price objective on shares of PTC Therapeutics in a research report on Monday, February 23rd. Finally, Morgan Stanley increased their target price on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.71.

Check Out Our Latest Research Report on PTCT

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Flax Pond Capital LLC acquired a new stake in PTC Therapeutics during the 4th quarter worth $456,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $397,000. Invesco Ltd. raised its position in shares of PTC Therapeutics by 38.7% in the fourth quarter. Invesco Ltd. now owns 434,285 shares of the biopharmaceutical company’s stock valued at $32,988,000 after buying an additional 121,228 shares during the last quarter. Summit Global Investments purchased a new position in shares of PTC Therapeutics in the fourth quarter worth about $242,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of PTC Therapeutics in the fourth quarter worth about $2,465,000.

About PTC Therapeutics

(Get Free Report)

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.

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