Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells 1,543 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,543 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $69,959.62. Following the completion of the transaction, the vice president now owns 108,846 shares in the company, valued at $4,935,077.64. This trade represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00.

PTC Therapeutics Trading Down 2.4 %

PTCT stock traded down $1.10 during trading on Friday, reaching $43.94. 548,622 shares of the stock were exchanged, compared to its average volume of 529,154. PTC Therapeutics, Inc. has a twelve month low of $23.58 and a twelve month high of $54.16. The firm’s 50 day moving average is $45.12 and its 200 day moving average is $38.39. The firm has a market cap of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Robert W. Baird increased their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays boosted their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. 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 data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $54.08.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co raised its holdings in shares of PTC Therapeutics by 10.4% in the fourth quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock valued at $759,000 after purchasing an additional 1,578 shares during the last quarter. Geode Capital Management LLC boosted its position in PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the last quarter. Two Sigma Advisers LP grew its stake in PTC Therapeutics by 10.3% in the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after purchasing an additional 40,300 shares during the period. Sphera Funds Management LTD. increased its position in shares of PTC Therapeutics by 25.5% during the 3rd quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock valued at $4,391,000 after purchasing an additional 24,027 shares during the last quarter. Finally, State Street Corp raised its stake in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares during the period.

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.