PTC Therapeutics (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 3,989 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 3,989 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total value of $252,822.82. Following the transaction, the insider owned 2,737 shares in the company, valued at $173,471.06. This trade represents a 59.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, February 18th, Neil Gregory Almstead sold 65 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $4,508.40.
• On Wednesday, February 18th, Neil Gregory Almstead sold 3,056 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $211,964.16.
• On Thursday, January 8th, Neil Gregory Almstead sold 59 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total transaction of $4,510.55.
• On Thursday, January 8th, Neil Gregory Almstead sold 881 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total transaction of $67,352.45.
• On Wednesday, January 7th, Neil Gregory Almstead sold 52 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total transaction of $4,028.96.
• On Wednesday, January 7th, Neil Gregory Almstead sold 1,026 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total transaction of $79,494.48.
• On Tuesday, January 6th, Neil Gregory Almstead sold 54 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total transaction of $4,155.30.
• On Tuesday, January 6th, Neil Gregory Almstead sold 1,279 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total transaction of $98,419.05.

PTC Therapeutics Stock Up 8.9%

Shares of PTCT stock opened at $68.40 on Tuesday. The company has a market cap of $5.66 billion, a P/E ratio of 8.84 and a beta of 0.51. The business has a 50 day moving average of $72.59 and a two-hundred day moving average of $69.59. 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 results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). The company had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.85) earnings per share. Analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC bought a new stake in PTC Therapeutics during the first quarter worth approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in PTC Therapeutics by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after purchasing an additional 18,504 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in PTC Therapeutics by 23.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 266,171 shares of the biopharmaceutical company’s stock valued at $13,000,000 after purchasing an additional 49,728 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of PTC Therapeutics during the 2nd quarter valued at $651,000. Finally, Los Angeles Capital Management LLC increased its position in shares of PTC Therapeutics by 202.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,909 shares of the biopharmaceutical company’s stock valued at $2,242,000 after purchasing an additional 30,745 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada lowered their price target on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a research report on Friday, February 20th. Wells Fargo & Company dropped their price objective on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $82.79.

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.