Mark Elliott Boulding Sells 15,521 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 15,521 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the transaction, the vice president now directly owns 103,901 shares of the company’s stock, valued at $5,537,923.30. The trade was a 13.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mark Elliott Boulding also recently made the following trade(s):

• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.10, for a total value of $66,783.30.
• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total value of $69,959.62.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $54.50 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $55.65. The stock has a 50 day moving average price of $48.60 and a two-hundred day moving average price of $43.57. The company has a market capitalization of $4.30 billion, a P/E ratio of -9.18 and a beta of 0.66.

Institutional Trading of PTC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in PTC Therapeutics by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock valued at $414,332,000 after purchasing an additional 53,688 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $148,363,000. State Street Corp increased its stake in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after buying an additional 149,700 shares during the period. Janus Henderson Group PLC increased its stake in shares of PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock valued at $105,015,000 after buying an additional 455,698 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after buying an additional 10,886 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PTCT shares. Robert W. Baird boosted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company boosted their target price on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Bank of America upgraded PTC Therapeutics from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Finally, StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.