Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells 1,333 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,333 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $66,783.30. Following the completion of the sale, the vice president now directly owns 105,515 shares in the company, valued at $5,286,301.50. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mark Elliott Boulding also recently made the following trade(s):

• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total transaction of $69,959.62.
• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded up $0.31 on Friday, hitting $50.69. 423,037 shares of the stock were exchanged, compared to its average volume of 686,683. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $54.16. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. The company’s 50-day moving average price is $46.58 and its 200 day moving average price is $41.35.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Charles Schwab Investment Management Inc. boosted its stake in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after acquiring an additional 47,902 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of PTC Therapeutics in the 3rd quarter valued at $698,000. Quest Partners LLC boosted its position in shares of PTC Therapeutics by 433.9% in the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 18,171 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth $521,000.

Analyst Ratings Changes

A number of analysts recently weighed in on PTCT shares. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup increased their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Barclays raised their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group boosted their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada raised their target price on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.85.

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.