Insider Selling: PTC Therapeutics (NASDAQ:PTCT) VP Sells 2,266 Shares of Stock

by · The Cerbat Gem

PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) VP Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $75.55, for a total value of $171,196.30. Following the completion of the sale, the vice president directly owned 120,901 shares of the company’s stock, valued at $9,134,070.55. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mark Elliott Boulding also recently made the following trade(s):

  • On Monday, November 17th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The shares were sold at an average price of $75.99, for a total transaction of $213,683.88.

PTC Therapeutics Trading Down 0.1%

Shares of PTCT traded down $0.06 on Tuesday, reaching $76.70. 2,117,039 shares of the company’s stock were exchanged, compared to its average volume of 1,638,346. The business has a 50 day moving average price of $76.06 and a two-hundred day moving average price of $62.32. The stock has a market capitalization of $6.16 billion, a P/E ratio of 8.96 and a beta of 0.49. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50.

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

Wall Street Analysts Forecast Growth

PTCT has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Citigroup increased their price objective on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada cut shares of PTC Therapeutics from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $82.00 to $91.00 in a research report on Monday, December 1st. Finally, Wall Street Zen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and an average target price of $76.00.

Get Our Latest Stock Analysis on PTC Therapeutics

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PTCT. Smartleaf Asset Management LLC grew its stake in shares of PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 236 shares in the last quarter. Optiver Holding B.V. lifted its stake 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 acquiring an additional 249 shares during the last quarter. Comerica Bank lifted its stake in 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. IFP Advisors Inc grew its position in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 310 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 295 shares during the last quarter.

PTC Therapeutics Company Profile

(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.

Featured Articles