Insider Selling: PTC Therapeutics (NASDAQ:PTCT) VP Sells $279,553.80 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 3,540 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $78.97, for a total value of $279,553.80. Following the completion of the sale, the vice president directly owned 105,212 shares in the company, valued at approximately $8,308,591.64. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.45, for a total value of $157,304.25.
• On Thursday, February 19th, Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.48, for a total value of $209,760.12.
• On Wednesday, February 18th, Mark Elliott Boulding sold 3,081 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total value of $213,698.16.
• On Tuesday, February 17th, Mark Elliott Boulding sold 2,813 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.29, for a total value of $194,912.77.

PTC Therapeutics Stock Down 1.0%

PTCT stock opened at $72.72 on Friday. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The company has a market cap of $6.03 billion, a PE ratio of -31.21, a price-to-earnings-growth ratio of 13.70 and a beta of 0.53. The business’s 50-day simple moving average is $68.43 and its 200 day simple moving average is $72.33.

PTC Therapeutics (NASDAQ:PTCT) last released its 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. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period last year, the business earned $10.04 earnings per share. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, equities research analysts anticipate that PTC Therapeutics, Inc. will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its stake in PTC Therapeutics by 41.4% during the first quarter. Sei Investments Co. now owns 130,204 shares of the biopharmaceutical company’s stock worth $8,871,000 after purchasing an additional 38,115 shares during the period. State of Wyoming bought a new position in PTC Therapeutics during the first quarter worth about $419,000. Measured Wealth Private Client Group LLC lifted its stake in PTC Therapeutics by 49.0% during the first quarter. Measured Wealth Private Client Group LLC now owns 7,395 shares of the biopharmaceutical company’s stock worth $504,000 after purchasing an additional 2,432 shares during the period. First Citizens Bank & Trust Co. bought a new position in PTC Therapeutics during the first quarter worth about $857,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of PTC Therapeutics by 8.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock valued at $213,000 after acquiring an additional 244 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $94.00 target price on shares of PTC Therapeutics in a research report on Friday, May 8th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Bank of America decreased their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.36.

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.