Key Points
- Director Mary Smith sold 15,834 shares of PTC Therapeutics at an average price of $90.00, totaling about $1.43 million. The trade, disclosed in an SEC filing, was made under a pre-arranged Rule 10b5-1 plan.
- After the sale, Smith still owned 21,813 shares valued at about $1.96 million, representing a 42.06% reduction in her holdings.
- PTC Therapeutics recently reported better-than-expected quarterly results, with revenue of $272.55 million and EPS of -$0.03 versus the consensus estimate of -$0.45. Analysts currently rate the stock a Moderate Buy with an average price target of $91.57.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 2,464 shares of the business's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $90.25, for a total value of $222,376.00. Following the sale, the insider directly owned 60,299 shares in the company, valued at $5,441,984.75. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Gregory Almstead also recently made the following trade(s):
- On Monday, July 6th, Neil Gregory Almstead sold 22,161 shares of PTC Therapeutics stock. The shares were sold at an average price of $86.00, for a total value of $1,905,846.00.
- On Tuesday, July 7th, Neil Gregory Almstead sold 24,613 shares of PTC Therapeutics stock. The stock was sold at an average price of $88.89, for a total value of $2,187,849.57.
- On Friday, June 26th, Neil Gregory Almstead sold 8,130 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.26, for a total value of $693,163.80.
- On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.97, for a total value of $1,801,931.20.
- On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.03, for a total transaction of $452,614.69.
- On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total transaction of $1,921,294.10.
PTC Therapeutics Price Performance
Shares of PTCT opened at $81.33 on Tuesday. The company has a 50-day moving average of $75.89 and a two-hundred day moving average of $72.76. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of -34.91, a PEG ratio of 3.90 and a beta of 0.53. PTC Therapeutics, Inc. has a one year low of $43.17 and a one year high of $90.87.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm's revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.04 earnings per share. Analysts anticipate that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in PTCT. Handelsbanken Fonder AB increased its stake in PTC Therapeutics by 15.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 29,000 shares of the biopharmaceutical company's stock valued at $2,366,000 after buying an additional 3,800 shares during the period. GAMMA Investing LLC boosted its stake in shares of PTC Therapeutics by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company's stock valued at $119,000 after buying an additional 534 shares during the period. Avior Wealth Management LLC acquired a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $308,000. Harbor Investment Advisory LLC purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at $81,000. Finally, Defilade Capital Management L.P. purchased a new position in shares of PTC Therapeutics during the 1st quarter valued at $25,628,000.
Wall Street Analyst Weigh In
PTCT has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Zacks Research raised PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Truist Financial upgraded PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. Raymond James Financial started coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an "outperform" rating and a $108.00 price target on the stock. Finally, Morgan Stanley reissued an "overweight" rating and issued a $94.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.57.
Get Our Latest 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
