PTC Therapeutics (NASDAQ:PTCT) Insider Sells $222,376.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 2,464 shares of PTC Therapeutics stock in a transaction 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 completion of the sale, the insider directly owned 60,299 shares of the company’s stock, valued at approximately $5,441,984.75. This represents a 3.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 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 shares were 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 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 Performance

PTC Therapeutics stock opened at $78.84 on Thursday. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $90.87. The firm has a 50 day moving average price of $76.40 and a 200 day moving average price of $72.76. The company has a market cap of $6.54 billion, a price-to-earnings ratio of -33.84, a PEG ratio of 3.59 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share 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 quarter last year, the firm posted $10.04 earnings per share. Sell-side analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PTCT shares. Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Morgan Stanley restated an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, Zacks Research raised shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.57.

Institutional Trading of PTC Therapeutics

Several large investors have recently added to or reduced their stakes in PTCT. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $26,000. Comerica Bank grew its stake in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $41,000. Allworth Financial LP raised its holdings in shares of PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 247 shares during the period. Finally, First Horizon Corp acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $53,000.

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.