Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) Insider Sells $65,130.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,300 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $65,130.00. Following the transaction, the insider now directly owns 101,931 shares in the company, valued at approximately $5,106,743.10. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, January 7th, Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $57,355.10.
• 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

NASDAQ PTCT opened at $50.69 on Monday. The company has a market cap of $3.91 billion, a P/E ratio of -8.53 and a beta of 0.62. The business’s 50 day moving average price is $46.67 and its 200-day moving average price is $41.62. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in shares of PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 270 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of PTC Therapeutics during the 4th quarter valued at approximately $68,000. GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics during the 4th quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in PTC Therapeutics during the 4th quarter valued at $77,000.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Cantor Fitzgerald boosted their price target on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Barclays boosted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Citigroup boosted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada boosted their price target on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.85.

PTC Therapeutics Company Profile

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.