Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Insider Sells $1,921,294.10 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 23,749 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $80.90, for a total transaction of $1,921,294.10. Following the transaction, the insider directly owned 60,137 shares in the company, valued at $4,865,083.30. The trade was a 28.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.04, for a total value of $3,590,287.12.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded up $2.28 during mid-day trading on Wednesday, reaching $84.41. 3,320,510 shares of the company traded hands, compared to its average volume of 1,378,512. The company’s fifty day moving average is $71.84 and its two-hundred day moving average is $71.94. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $87.50. The stock has a market cap of $7.00 billion, a PE ratio of -36.23, a price-to-earnings-growth ratio of 3.72 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same period in the previous year, the company earned $10.04 EPS. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. Research analysts forecast that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $26,000. Optiver Holding B.V. increased its stake in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 249 shares during the period. Comerica Bank raised its holdings in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 469 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $41,000. Finally, Allworth Financial LP grew its holdings in shares of PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 247 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. Raymond James Financial started coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective on the stock. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Finally, TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $91.36.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.