PTC Therapeutics (NASDAQ:PTCT) Insider Sells $252,822.82 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 3,989 shares of PTC Therapeutics stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $63.38, for a total transaction of $252,822.82. Following the sale, the insider owned 2,737 shares of the company’s stock, valued at approximately $173,471.06. This trade represents a 59.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, February 18th, Neil Gregory Almstead sold 65 shares of PTC Therapeutics stock. The shares were 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 stock was 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 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 stock was sold at an average price of $76.45, for a total value 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 value 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 value of $79,494.48.
• On Tuesday, January 6th, Neil Gregory Almstead sold 54 shares of PTC Therapeutics stock. The shares were 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 stock was sold at an average price of $76.95, for a total transaction of $98,419.05.

PTC Therapeutics Stock Performance

PTCT opened at $65.67 on Thursday. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The company’s 50 day simple moving average is $72.23 and its 200 day simple moving average is $69.69. The stock has a market capitalization of $5.44 billion, a PE ratio of 8.48 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $281.45 million. During the same quarter last year, the business earned ($0.85) EPS. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on PTCT. Morgan Stanley boosted their price target on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Royal Bank Of Canada decreased their target price 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 cut their price target on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Finally, TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.79.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in PTC Therapeutics in the 1st quarter valued at about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 valued at $9,109,000 after buying an additional 18,504 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of PTC Therapeutics by 23.0% during the second quarter. Bank of New York Mellon Corp now owns 266,171 shares of the biopharmaceutical company’s stock worth $13,000,000 after buying an additional 49,728 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of PTC Therapeutics in the second quarter worth $651,000. Finally, Los Angeles Capital Management LLC raised its holdings in PTC Therapeutics by 202.7% in the second quarter. Los Angeles Capital Management LLC now owns 45,909 shares of the biopharmaceutical company’s stock valued at $2,242,000 after acquiring an additional 30,745 shares in the last quarter.

PTC Therapeutics Company Profile

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.