PTC Therapeutics (NASDAQ:PTCT) CEO Matthew Klein Sells 2,850 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 2,850 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $70.91, for a total value of $202,093.50. Following the sale, the chief executive officer owned 394,070 shares in the company, valued at $27,943,503.70. The trade was a 0.72% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $68.59 on Friday. The stock has a 50 day moving average price of $68.16 and a 200 day moving average price of $71.94. The stock has a market capitalization of $5.69 billion, a PE ratio of 8.86 and a beta of 0.55. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The company had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. During the same period last year, the firm earned ($0.85) EPS. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. As a group, research analysts forecast that PTC Therapeutics, Inc. will post -0.76 EPS for the current year.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in PTC Therapeutics by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after buying an additional 514,204 shares during the last quarter. Wellington Management Group LLP lifted its position in PTC Therapeutics by 4.8% during the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after acquiring an additional 224,481 shares during the last quarter. Janus Henderson Group PLC lifted its position in PTC Therapeutics by 28.6% during the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock worth $368,587,000 after acquiring an additional 1,077,776 shares during the last quarter. State Street Corp boosted its holdings in shares of PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after acquiring an additional 1,071,343 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of PTC Therapeutics by 27.5% during 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 period.

Analysts Set New Price Targets

PTCT has been the topic of several analyst reports. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Morgan Stanley lifted their price objective on shares of PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wells Fargo & Company dropped their target price 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. Royal Bank Of Canada cut their target price on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a research note on Friday, February 20th. Finally, Bank of America reduced their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.40.

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.