PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden Sells 897 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 897 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the transaction, the executive vice president now directly owns 75,997 shares of the company’s stock, valued at approximately $3,568,059.15. The trade was a 1.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Lee Scott Golden also recently made the following trade(s):

• On Wednesday, February 19th, Lee Scott Golden sold 795 shares of PTC Therapeutics stock. The shares were sold at an average price of $50.10, for a total transaction of $39,829.50.
• On Tuesday, January 7th, Lee Scott Golden sold 810 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total transaction of $36,725.40.

PTC Therapeutics Trading Down 7.5 %

Shares of PTCT opened at $43.24 on Friday. The firm’s fifty day simple moving average is $51.22 and its two-hundred day simple moving average is $45.56. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $58.38. The stock has a market capitalization of $3.41 billion, a P/E ratio of -7.28 and a beta of 0.58.

Analyst Ratings Changes

Several brokerages have recently issued reports on PTCT. Royal Bank of Canada upped their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Citigroup lifted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. JPMorgan Chase & Co. dropped their price objective on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $63.77.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 522 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at $68,000. GF Fund Management CO. LTD. acquired a new position in shares of PTC Therapeutics during the 4th quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in PTC Therapeutics during the fourth quarter worth $77,000.

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.