Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Insider Sells 52,003 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 52,003 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the completion of the transaction, the insider directly owned 60,137 shares in the company, valued at $4,151,858.48. This trade represents a 46.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was 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 value of $4,508.40.
• On Wednesday, February 18th, Neil Gregory Almstead sold 3,056 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total value of $211,964.16.
• On Thursday, January 8th, Neil Gregory Almstead sold 59 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total value of $4,510.55.
• On Thursday, January 8th, Neil Gregory Almstead sold 881 shares of PTC Therapeutics stock. The shares were 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 stock was 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 transaction 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 transaction of $98,419.05.

PTC Therapeutics Price Performance

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PTC Therapeutics stock opened at $67.77 on Friday. The firm has a 50 day simple moving average of $69.06 and a 200-day simple moving average of $70.98. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 8.76 and a beta of 0.55. 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 the consensus estimate of ($0.21) by ($1.46). The firm had revenue of $164.68 million for the quarter, compared to analysts' expectations of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The firm's quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.85) EPS. Equities analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently bought and sold shares of the company. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 236 shares in the last quarter. Optiver Holding B.V. increased its stake in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 249 shares during the period. Comerica Bank lifted its holdings in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 469 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $41,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PTCT. Barclays reiterated an "overweight" rating and set a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Truist Financial raised shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. TD Cowen reaffirmed a "hold" rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Finally, Royal Bank Of Canada decreased their price objective on shares of PTC Therapeutics from $87.00 to $82.00 and set a "sector perform" rating on the stock in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.71.

Check Out Our Latest Research Report on PTC Therapeutics

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.

Further Reading

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