Matthew Klein Sells 2,662 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 2,662 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $64.08, for a total transaction of $170,580.96. Following the completion of the sale, the chief executive officer owned 396,920 shares in the company, valued at $25,434,633.60. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $64.49 on Friday. The company has a 50-day simple moving average of $71.73 and a 200-day simple moving average of $69.89. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The firm has a market capitalization of $5.34 billion, a P/E ratio of 8.33 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last released its 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 negative return on equity of 362.45% and a net margin of 39.44%.The firm had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. During the same period last year, the business earned ($0.85) earnings per share. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 236 shares during the last quarter. Optiver Holding B.V. increased its position in PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the period. Comerica Bank raised 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 purchasing an additional 469 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in PTC Therapeutics during the 4th quarter worth about $41,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PTCT. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Bank of America dropped their price objective on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a report on Friday, February 20th. Wells Fargo & Company dropped their price target on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada reduced their price objective on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Friday, February 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.79.

About PTC Therapeutics

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.