PTC Therapeutics (NASDAQ:PTCT) Insider Sells 22,161 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 22,161 shares of PTC Therapeutics stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $86.00, for a total transaction of $1,905,846.00. Following the sale, the insider owned 60,299 shares of the company’s stock, valued at approximately $5,185,714. The trade was a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Tuesday, July 7th, Neil Gregory Almstead sold 24,613 shares of PTC Therapeutics stock. The stock was sold at an average price of $88.89, for a total value of $2,187,849.57.
• On Friday, June 26th, Neil Gregory Almstead sold 8,130 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.26, for a total value of $693,163.80.
• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.97, for a total value of $1,801,931.20.
• On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.03, for a total value of $452,614.69.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total transaction of $1,921,294.10.

PTC Therapeutics Stock Down 0.7%

Shares of NASDAQ:PTCT traded down $0.63 during trading on Wednesday, hitting $88.57. 1,322,369 shares of the stock traded hands, compared to its average volume of 1,493,301. The company has a fifty day moving average price of $74.39 and a two-hundred day moving average price of $72.51. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $89.85. The company has a market cap of $7.35 billion, a price-to-earnings ratio of -38.01, a P/E/G ratio of 3.93 and a beta of 0.53.

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

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in shares of PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after acquiring an additional 2,342,101 shares during the last quarter. State Street Corp lifted its position in shares of PTC Therapeutics by 34.2% in the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after acquiring an additional 1,071,343 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of PTC Therapeutics by 27.5% in the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after acquiring an additional 891,690 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of PTC Therapeutics by 4,013.1% during the fourth quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after purchasing an additional 808,515 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in PTC Therapeutics by 587.5% in the 4th quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company’s stock valued at $67,943,000 after purchasing an additional 764,364 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on PTCT. Raymond James Financial assumed coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective on the stock. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $75.00 to $108.00 in a research note on Tuesday, June 9th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Royal Bank Of Canada lifted their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Wells Fargo & Company boosted their price target 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. One research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $91.57.

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.