PTC Therapeutics (NASDAQ:PTCT) CEO Matthew Klein Sells 12,572 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 12,572 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $72.95, for a total transaction of $917,127.40. Following the sale, the chief executive officer owned 393,998 shares of the company’s stock, valued at approximately $28,742,154.10. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PTC Therapeutics Trading Down 1.7%

PTC Therapeutics stock traded down $1.25 during midday trading on Friday, hitting $71.47. 843,484 shares of the stock were exchanged, compared to its average volume of 1,271,747. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $87.50. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -30.67, a PEG ratio of 13.70 and a beta of 0.53. The stock’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 quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the business earned $10.04 earnings per share. PTC Therapeutics’s revenue was up 43.5% compared to the same quarter last year. Equities analysts anticipate that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after acquiring an additional 514,204 shares during the last quarter. Wellington Management Group LLP increased its position in shares of PTC Therapeutics by 4.8% during the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock valued at $301,856,000 after acquiring an additional 224,481 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of PTC Therapeutics by 28.6% during the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock valued at $368,587,000 after acquiring an additional 1,077,776 shares during the last quarter. State Street Corp increased its position in shares of PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after acquiring an additional 1,071,343 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Raymond James Financial assumed coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective for the company. Jefferies Financial Group cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $91.00 to $76.00 in a research report on Monday, March 30th. Barclays reiterated an “overweight” rating and set a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. Finally, Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $88.36.

PTC Therapeutics Company Profile

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.