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 company’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 sale, the insider now owns 101,931 shares of the company’s stock, valued at $5,106,743.10. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 stock was 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 stock was sold at an average price of $52.06, for a total value of $3,620,773.00.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $50.69 on Monday. The stock’s 50-day simple moving average is $46.67 and its 200-day simple moving average is $41.62. The firm has a market capitalization of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $54.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PTCT shares. The Goldman Sachs Group upped their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. 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 report on Tuesday, December 3rd. 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 report on Tuesday, December 3rd. Citigroup upped their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Finally, UBS Group upped their target price 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 investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.85.

Institutional Trading of PTC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PTC Therapeutics by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company’s stock worth $2,967,000 after acquiring an additional 205 shares during the period. Arizona State Retirement System grew its holdings in PTC Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock worth $907,000 after acquiring an additional 219 shares during the period. Choreo LLC grew its holdings in PTC Therapeutics by 2.0% during the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock worth $541,000 after acquiring an additional 240 shares during the period. Summit Investment Advisors Inc. grew its holdings in PTC Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 253 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings 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.

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.