PTC Therapeutics (NASDAQ:PTCT) Insider Sells $3,590,287.12 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 52,003 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. The trade was a 46.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were 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 shares were 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 value of $67,352.45.
• On Wednesday, January 7th, Neil Gregory Almstead sold 52 shares of PTC Therapeutics stock. The stock was 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

Shares of NASDAQ PTCT remained flat at $67.77 during mid-day trading on Friday. 483,009 shares of the stock were exchanged, compared to its average volume of 1,155,588. The firm has a market cap of $5.61 billion, a PE ratio of 8.76 and a beta of 0.55. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $87.50. The stock’s 50 day moving average price is $69.21 and its 200-day moving average price is $70.92.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data 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). The company had revenue of $164.68 million for the quarter, compared to the consensus estimate of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.85) EPS. As a group, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PTCT shares. Royal Bank Of Canada lowered their price target 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 decreased their target price on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Finally, Morgan Stanley raised their price target on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and an average price target of $82.71.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of PTCT. WCM Investment Management LLC bought a new position in shares of PTC Therapeutics in the 3rd quarter worth $8,919,000. Sector Gamma AS boosted its position in PTC Therapeutics by 28.0% during the third quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company’s stock valued at $7,249,000 after purchasing an additional 25,862 shares in the last quarter. QRG Capital Management Inc. bought a new stake in PTC Therapeutics during the third quarter valued at about $2,090,000. Jefferies Financial Group Inc. purchased a new position in PTC Therapeutics in the third quarter valued at about $97,252,000. Finally, Brummer Multi Strategy AB purchased a new position in PTC Therapeutics in the third quarter valued at about $1,175,000.

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.