PTC Therapeutics, Inc. (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 1,265 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $57,355.10. Following the completion of the sale, the insider now directly owns 104,783 shares of the company’s stock, valued at approximately $4,750,861.22. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $1.10 during trading hours on Friday, hitting $43.94. The company’s stock had a trading volume of 548,622 shares, compared to its average volume of 529,154. PTC Therapeutics, Inc. has a 12-month low of $23.58 and a 12-month high of $54.16. The business has a 50 day moving average price of $45.12 and a two-hundred day moving average price of $38.39. The company has a market cap of $3.39 billion, a PE ratio of -7.40 and a beta of 0.62.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of recent research reports. Citigroup increased their target price on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $45.00 to $67.00 in a research report on Friday, December 13th. UBS Group increased their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $54.08.

Institutional Inflows and Outflows

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

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.