PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Sells $44,037.90 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 879 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the transaction, the chief accounting officer now owns 63,442 shares in the company, valued at $3,178,444.20. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Christine Marie Utter also recently made the following trade(s):

• On Tuesday, January 7th, Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $58,533.94.
• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The shares were sold at an average price of $51.77, for a total value of $921,506.00.

PTC Therapeutics Trading Up 0.6 %

PTC Therapeutics stock opened at $50.69 on Friday. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $54.16. The stock has a 50-day simple moving average of $46.67 and a 200 day simple moving average of $41.49.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of PTCT. Toronto Dominion Bank bought a new position in PTC Therapeutics during the fourth quarter worth about $148,363,000. Driehaus Capital Management LLC bought a new position in PTC Therapeutics during the fourth quarter worth about $46,993,000. Point72 Asset Management L.P. grew its holdings in PTC Therapeutics by 150.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after purchasing an additional 867,502 shares during the period. Janus Henderson Group PLC grew its holdings in PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after purchasing an additional 455,698 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in PTC Therapeutics by 107.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock worth $33,241,000 after purchasing an additional 381,319 shares during the period.

Wall Street Analyst Weigh In

PTCT has been the topic of several recent research reports. Citigroup raised their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Barclays raised their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Cantor Fitzgerald raised their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.85.

About PTC Therapeutics

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.