Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) Insider Sells 1,300 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,300 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $65,130.00. Following the completion of the transaction, the insider now directly owns 101,931 shares of the company’s stock, valued at approximately $5,106,743.10. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, January 7th, Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $57,355.10.
• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00.

PTC Therapeutics Stock Up 0.6 %

Shares of NASDAQ PTCT opened at $50.69 on Friday. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $54.16. The business has a 50-day moving average of $46.67 and a 200-day moving average of $41.49.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares during the period. Two Sigma Advisers LP boosted its position in shares of PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after buying an additional 40,300 shares during the period. Intech Investment Management LLC purchased a new stake in shares of PTC Therapeutics in the third quarter worth about $698,000. Vontobel Holding Ltd. acquired a new position in shares of PTC Therapeutics in the fourth quarter worth about $521,000. Finally, Quest Partners LLC lifted its stake in shares of PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after acquiring an additional 18,171 shares in the last quarter.

Analyst Upgrades and Downgrades

PTCT has been the subject of several analyst reports. Robert W. Baird upped their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company upped their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays upped their target price on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada upped their target price on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.85.

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.