PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Sells $58,516.80 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier sold 1,168 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $58,516.80. Following the completion of the sale, the chief financial officer now directly owns 75,603 shares of the company’s stock, valued at approximately $3,787,710.30. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

PTC Therapeutics Trading Up 0.6 %

PTC Therapeutics stock traded up $0.31 during trading hours on Friday, reaching $50.69. 423,037 shares of the company were exchanged, compared to its average volume of 686,683. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $54.16. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. The stock has a 50-day moving average of $46.58 and a 200 day moving average of $41.35.

Analyst Ratings Changes

A number of research firms have recently issued reports on PTCT. The Goldman Sachs Group increased their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Citigroup increased their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada increased their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, UBS Group lifted their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTCT. Smartleaf Asset Management LLC increased its position in PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 270 shares during the period. Sterling Capital Management LLC lifted its stake in PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares during the period. Venturi Wealth Management LLC bought a new stake in PTC Therapeutics in the fourth quarter valued at $68,000. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in PTC Therapeutics during the 4th quarter valued at about $77,000.

About PTC Therapeutics

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.