Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Sells $42,114.15 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the transaction, the executive vice president now owns 75,997 shares of the company’s stock, valued at approximately $3,568,059.15. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lee Scott Golden also recently made the following trade(s):

• On Wednesday, February 19th, Lee Scott Golden sold 795 shares of PTC Therapeutics stock. The shares were sold at an average price of $50.10, for a total value of $39,829.50.
• On Tuesday, January 7th, Lee Scott Golden sold 810 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $36,725.40.

PTC Therapeutics Trading Down 7.5 %

NASDAQ PTCT opened at $43.24 on Monday. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The company has a market cap of $3.41 billion, a PE ratio of -7.28 and a beta of 0.58. The stock’s 50-day moving average price is $51.22 and its two-hundred day moving average price is $45.70.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently made changes to their positions in PTCT. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 522 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics during the fourth quarter valued at $68,000. GF Fund Management CO. LTD. acquired a new position in PTC Therapeutics during the fourth quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in PTC Therapeutics in the 4th quarter worth about $77,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Cantor Fitzgerald boosted their target price on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Scotiabank assumed coverage on PTC Therapeutics in a research note on Friday, March 7th. They set a “sector perform” rating and a $55.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.77.

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.