Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Insider Sells 71,928 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 71,928 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $83.44, for a total transaction of $6,001,672.32. Following the completion of the transaction, the insider owned 100,625 shares in the company, valued at $8,396,150. This represents a 41.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Neil Gregory Almstead also recently made the following trade(s):

• On Monday, November 24th, Neil Gregory Almstead sold 35,572 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.18, for a total value of $2,852,162.96.
• On Friday, October 3rd, Neil Gregory Almstead sold 55,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $66.05, for a total transaction of $3,632,750.00.

PTC Therapeutics Price Performance

PTC Therapeutics stock traded up $3.32 during trading hours on Wednesday, reaching $86.25. The stock had a trading volume of 15,474,693 shares, compared to its average volume of 1,201,735. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 12.37 and a beta of 0.60. The business’s 50 day moving average price is $67.91 and its 200-day moving average price is $56.23. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The firm had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. During the same period in the previous year, the company earned ($1.39) earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PTCT shares. Morgan Stanley decreased their target price on PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Bank of America cut their target price on PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Cowen restated a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, November 5th. The Goldman Sachs Group lifted their target price on PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada increased their price objective on PTC Therapeutics from $70.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

Institutional Trading of PTC Therapeutics

Several large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its position in PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 236 shares during the last quarter. Optiver Holding B.V. lifted its stake in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the period. Comerica Bank boosted its holdings in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the last quarter. Quantbot Technologies LP grew its position in shares of PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 551 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 320 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.