Neil Gregory Almstead Sells 35,572 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 35,572 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $80.18, for a total value of $2,852,162.96. Following the transaction, the insider owned 100,625 shares in the company, valued at $8,068,112.50. This represents a 26.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, November 25th, Neil Gregory Almstead sold 71,928 shares of PTC Therapeutics stock. The stock was sold at an average price of $83.44, for a total transaction of $6,001,672.32.
• On Friday, October 3rd, Neil Gregory Almstead sold 55,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $66.05, for a total transaction of $3,632,750.00.

PTC Therapeutics Stock Performance

PTC Therapeutics stock traded up $3.32 during midday trading on Wednesday, hitting $86.25. 15,474,693 shares of the company’s stock were exchanged, compared to its average volume of 1,201,735. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 12.37 and a beta of 0.60. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $87.50. The firm’s 50 day simple moving average is $67.91 and its 200 day simple moving average is $56.23.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The firm had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $177.42 million. During the same quarter in the previous year, the firm posted ($1.39) EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on PTCT shares. Bank of America dropped their price objective on shares of PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. UBS Group boosted their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Morgan Stanley reduced their price objective on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. TD Cowen lifted their price objective on PTC Therapeutics from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Finally, Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently made changes to their positions in PTCT. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 101.3% during 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 during the last quarter. Optiver Holding B.V. grew its position in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares during the last quarter. Comerica Bank raised its stake in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares during the period. Quantbot Technologies LP lifted its holdings in PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 551 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 320 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.