PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $373,879.64 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the transaction, the chief executive officer now directly owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PTC Therapeutics Trading Up 1.4 %

PTCT traded up $0.66 during trading on Friday, hitting $46.54. 501,601 shares of the company’s stock were exchanged, compared to its average volume of 488,000. PTC Therapeutics, Inc. has a 1 year low of $23.58 and a 1 year high of $54.16. The stock has a 50 day moving average price of $44.67 and a 200 day moving average price of $38.04. The firm has a market cap of $3.59 billion, a P/E ratio of -7.84 and a beta of 0.63.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PTCT. KBC Group NV lifted its stake in shares of PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares in the last quarter. CWM LLC grew its stake in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the period. Quest Partners LLC acquired a new position in PTC Therapeutics during the 2nd quarter worth approximately $128,000. Finally, Quarry LP boosted its holdings in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 2,500 shares during the period.

Analyst Ratings Changes

Several research analysts recently weighed in on PTCT shares. Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Raymond James started coverage on PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $54.08.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.