Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells 3,361 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the sale, the chief executive officer now owns 225,807 shares in the company, valued at $5,620,336.23. The sale was disclosed in a document filed with the SEC, which is available through this link.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $25.41 on Wednesday. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $59.84. The company has a 50 day moving average price of $28.10 and a 200 day moving average price of $25.74. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -3.04 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.53). The firm had revenue of $307.06 million for the quarter, compared to the consensus estimate of $315.90 million. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post -5.94 EPS for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of PTC Therapeutics by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after purchasing an additional 380,415 shares during the period. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock valued at $242,551,000 after acquiring an additional 855,354 shares during the last quarter. RTW Investments LP boosted its stake in PTC Therapeutics by 2.6% during the 4th quarter. RTW Investments LP now owns 7,423,970 shares of the biopharmaceutical company’s stock valued at $204,605,000 after acquiring an additional 188,774 shares during the last quarter. Armistice Capital LLC lifted its position in shares of PTC Therapeutics by 11.6% in the 4th quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock worth $189,172,000 after buying an additional 714,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of PTC Therapeutics by 10.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock worth $25,160,000 after buying an additional 104,024 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of PTC Therapeutics in a report on Friday, April 12th. TD Cowen reduced their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Finally, Jefferies Financial Group boosted their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.53.

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.