PTC Therapeutics (NASDAQ:PTCT) Insider Sells 22,161 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 22,161 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $86.00, for a total transaction of $1,905,846.00. Following the sale, the insider directly owned 60,299 shares of the company’s stock, valued at $5,185,714. The trade was a 26.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 7th, Neil Gregory Almstead sold 24,613 shares of PTC Therapeutics stock. The stock was sold at an average price of $88.89, for a total transaction of $2,187,849.57.
• On Friday, June 26th, Neil Gregory Almstead sold 8,130 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.26, for a total transaction of $693,163.80.
• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.97, for a total transaction of $1,801,931.20.
• On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.03, for a total transaction of $452,614.69.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total transaction of $1,921,294.10.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded down $0.63 during midday trading on Wednesday, hitting $88.57. The company had a trading volume of 1,322,369 shares, compared to its average volume of 1,493,301. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $89.85. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of -38.01, a price-to-earnings-growth ratio of 3.93 and a beta of 0.53. The business’s 50-day simple moving average is $74.39 and its 200-day simple moving average is $72.51.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The firm had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm’s revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the business posted $10.04 earnings per share. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their price target on PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday. Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Wells Fargo & Company increased their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Morgan Stanley restated an “overweight” rating and set a $94.00 price target on shares of PTC Therapeutics in a report on Friday, May 8th. Finally, TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and an average target price of $91.57.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its stake in PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after buying an additional 2,342,101 shares during the period. State Street Corp raised its stake in shares of PTC Therapeutics by 34.2% in the 4th 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 period. Toronto Dominion Bank lifted its holdings in shares of PTC Therapeutics by 27.5% in the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after acquiring an additional 891,690 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after acquiring an additional 808,515 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of PTC Therapeutics by 587.5% during the 4th quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company’s stock worth $67,943,000 after purchasing an additional 764,364 shares during the period.

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.