PTC Therapeutics (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 2,464 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 2,464 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the sale, the insider directly owned 60,299 shares in the company, valued at approximately $5,441,984.75. This trade represents a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Neil Gregory Almstead sold 22,161 shares of PTC Therapeutics stock. The stock was sold at an average price of $86.00, for a total value of $1,905,846.00.
• On Tuesday, July 7th, Neil Gregory Almstead sold 24,613 shares of PTC Therapeutics stock. The shares were 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 shares were 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 stock was 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 transaction 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 4.1%

Shares of PTCT opened at $81.33 on Tuesday. The firm has a market capitalization of $6.75 billion, a PE ratio of -34.91, a P/E/G ratio of 3.90 and a beta of 0.53. The firm has a 50-day moving average price of $75.89 and a 200 day moving average price of $72.76. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The company 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%. PTC Therapeutics’s revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the firm earned $10.04 EPS. On average, equities analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PTCT shares. Royal Bank Of Canada boosted their target price on PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Wells Fargo & Company increased their price target on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 8th. Finally, Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.57.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently made changes to their positions in the business. UMB Bank n.a. acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $26,000. Comerica Bank grew its position in PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in PTC Therapeutics in the fourth quarter worth approximately $41,000. IFP Advisors Inc increased its holdings in shares of PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 247 shares in the last quarter.

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.