PTC Therapeutics (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 8,130 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 8,130 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $85.26, for a total value of $693,163.80. Following the completion of the transaction, the insider owned 60,137 shares of the company’s stock, valued at $5,127,280.62. The trade was a 11.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.97, for a total transaction of $1,801,931.20.
• On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.03, for a total transaction of $452,614.69.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The shares were sold at an average price of $80.90, for a total transaction of $1,921,294.10.
• On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12.

PTC Therapeutics Stock Performance

PTCT stock opened at $81.57 on Wednesday. The company’s 50-day moving average price is $72.95 and its 200 day moving average price is $72.20. PTC Therapeutics, Inc. has a 52 week low of $43.17 and a 52 week high of $87.50. The company has a market cap of $6.77 billion, a P/E ratio of -35.01, a P/E/G ratio of 3.75 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the company posted $10.04 earnings per share. The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. On average, equities research analysts expect that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky increased its stake in shares of PTC Therapeutics by 86.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock valued at $3,103,000 after acquiring an additional 19,000 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of PTC Therapeutics in the fourth quarter worth approximately $4,191,000. Jefferies Financial Group Inc. acquired a new stake in shares of PTC Therapeutics in the third quarter worth approximately $97,252,000. Ritholtz Wealth Management purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $1,863,000. Finally, Legal & General Group Plc grew its holdings in PTC Therapeutics by 51.8% in the fourth quarter. Legal & General Group Plc now owns 366,265 shares of the biopharmaceutical company’s stock valued at $27,821,000 after purchasing an additional 124,923 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $90.00 in a report on Friday, May 8th. Morgan Stanley restated an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price target on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.36.

PTC Therapeutics Company Profile

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.