Key Points
- PTC VP Mark Elliott Boulding sold 3,019 shares on Feb. 19 at an average of $69.48 for about $209,760, part of a series of recent disposals that trimmed his stake by 2.79% to 105,212 shares.
- PTC reported a sharp quarterly miss on Feb. 19, with EPS of ($1.67) versus ($0.21) expected and revenue of $164.7M versus $281.5M expected, a 22.7% year-over-year revenue decline.
- Insider selling is broader — CEO Matthew Klein sold 7,371 shares (~$511k) on Feb. 18 and multiple other insiders disclosed sales in the same period, which may amplify negative market sentiment.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 3,019 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $69.48, for a total value of $209,760.12. Following the transaction, the vice president owned 105,212 shares in the company, valued at approximately $7,310,129.76. This trade represents a 2.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Mark Elliott Boulding also recently made the following trade(s):
- On Wednesday, February 18th, Mark Elliott Boulding sold 3,081 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total value of $213,698.16.
- On Tuesday, February 17th, Mark Elliott Boulding sold 2,813 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.29, for a total transaction of $194,912.77.
- On Friday, January 9th, Mark Elliott Boulding sold 2,314 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.93, for a total transaction of $180,330.02.
- On Thursday, January 8th, Mark Elliott Boulding sold 4,033 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.56, for a total transaction of $308,766.48.
- On Tuesday, January 6th, Mark Elliott Boulding sold 1,739 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total transaction of $133,816.05.
- On Wednesday, January 7th, Mark Elliott Boulding sold 4,879 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.44, for a total transaction of $377,829.76.
- On Monday, January 5th, Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock. The shares were sold at an average price of $75.55, for a total transaction of $171,196.30.
PTC Therapeutics Trading Down 0.2%
PTCT stock opened at $70.50 on Tuesday. The business's 50-day moving average price is $74.80 and its two-hundred day moving average price is $68.28. The firm has a market cap of $5.84 billion, a PE ratio of 9.11 and a beta of 0.48. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The business had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. During the same period in the prior year, the business earned ($0.85) EPS. The company's revenue for the quarter was down 22.7% compared to the same quarter last year. On average, analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.
Institutional Trading of PTC Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in PTC Therapeutics during the first quarter worth about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of PTC Therapeutics by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock worth $9,109,000 after purchasing an additional 18,504 shares during the last quarter. AlphaQuest LLC raised its stake in shares of PTC Therapeutics by 337.7% during the 2nd quarter. AlphaQuest LLC now owns 7,909 shares of the biopharmaceutical company's stock worth $386,000 after purchasing an additional 6,102 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of PTC Therapeutics by 7.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 41,376 shares of the biopharmaceutical company's stock worth $2,021,000 after purchasing an additional 2,701 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at approximately $226,000.
Trending Headlines about PTC Therapeutics
Here are the key news stories impacting PTC Therapeutics this week:
- Positive Sentiment: Cantor Fitzgerald reaffirmed a Buy rating on PTCT, which supports analyst confidence and can be a constructive signal for investors. Cantor Fitzgerald Sticks to Their Buy Rating for PTC Therapeutics (PTCT)
- Positive Sentiment: Management will present at upcoming investor conferences (including TD Cowen on March 2), offering an opportunity for management to update investors on commercial performance and pipeline progress. PTC Therapeutics to Participate at Upcoming Investor Conferences
- Neutral Sentiment: VP Mark Elliott Boulding disclosed a sale of 3,019 shares (~$209.8K) on Feb. 19; insider sales can be routine but add to recent selling activity that investors watch. Mark Elliott Boulding sale filing
- Negative Sentiment: CEO Matthew Klein sold 7,371 shares for ~$511k on Feb. 18 — a sizable insider sale by the CEO that may be viewed negatively by the market. Matthew Klein insider sale
- Negative Sentiment: Multiple other insiders (several VPs and directors) reported recent modest-to-mid-size sales in the same period, amplifying downward pressure as investors interpret clustered selling as a negative signal. Multiple insider sales reported
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of PTC Therapeutics in a research report on Monday, December 29th. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, November 5th. Jefferies Financial Group increased their target price on PTC Therapeutics from $63.00 to $77.00 and gave the stock a "buy" rating in a report on Tuesday, October 28th. Wells Fargo & Company cut their price target on PTC Therapeutics from $93.00 to $86.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Bank of America reduced their price objective on PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating for the company in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $80.93.
Check Out Our Latest Analysis on PTCT
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.
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