PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 1,543 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,543 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $69,959.62. Following the sale, the vice president now directly owns 108,846 shares of the company’s stock, valued at $4,935,077.64. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00.

PTC Therapeutics Stock Performance

PTCT stock opened at $43.94 on Friday. PTC Therapeutics, Inc. has a one year low of $23.58 and a one year high of $54.16. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62. The firm has a 50-day simple moving average of $45.19 and a two-hundred day simple moving average of $38.44.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Armistice Capital LLC grew its holdings in PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after purchasing an additional 198,227 shares during the last quarter. State Street Corp grew its stake in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after buying an additional 149,700 shares during the last quarter. Geode Capital Management LLC increased its position in PTC Therapeutics by 0.6% during the 3rd 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 in the last quarter. Renaissance Technologies LLC raised its stake in PTC Therapeutics by 7.4% in the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock valued at $25,017,000 after buying an additional 56,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after acquiring an additional 47,902 shares in the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. UBS Group increased their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird lifted 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. Three research 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $54.08.

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.