PTC Therapeutics (NASDAQ:PTCT) CEO Matthew Klein Sells 3,016 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 3,016 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $77.48, for a total transaction of $233,679.68. Following the completion of the transaction, the chief executive officer directly owned 396,967 shares in the company, valued at $30,757,003.16. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT traded down $0.39 during midday trading on Thursday, hitting $76.85. 1,625,361 shares of the stock were exchanged, compared to its average volume of 1,684,365. The company has a market capitalization of $6.17 billion, a PE ratio of 8.98 and a beta of 0.49. PTC Therapeutics, Inc. has a 52-week low of $35.95 and a 52-week high of $87.50. The business’s fifty day simple moving average is $76.26 and its two-hundred day simple moving average is $62.43.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The company had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. During the same period in the prior year, the firm posted ($1.39) EPS. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. TD Cowen raised their target price on PTC Therapeutics from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Finally, Royal Bank Of Canada cut PTC Therapeutics from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $82.00 to $91.00 in a research report on Monday, December 1st. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and an average target price of $77.27.

Key Stories Impacting PTC Therapeutics

Here are the key news stories impacting PTC Therapeutics this week:

• Positive Sentiment: Recent fundamentals still supportive — PTC reported an earnings and revenue beat in its last quarter (Nov.) and maintains strong margins relative to peers, which underpins the stock’s valuation and analyst interest. MarketBeat PTCT profile
• Neutral Sentiment: Small inducement grant: the company approved 300 restricted stock units for a new non?executive employee on Jan. 2 — immaterial dilution and likely not a major near?term driver. PR Newswire: Inducement Grants
• Neutral Sentiment: Analyst consensus is a “Hold” with a mixed set of price targets and ratings — this produces limited conviction among buy?side actors and can temper short?term moves. Analyst consensus report
• Negative Sentiment: Heavy insider selling disclosed in multiple Form 4s — several executives and directors (including the CEO, CFO, EVP, VPs and others) sold several tens of thousands of shares across Jan. 6–7 at ~\$77 per share, representing millions of dollars of proceeds. Collective insider sales at this scale can put near?term downward pressure on the stock and signal to some investors that insiders are taking gains. The filings and aggregated alert are here for review. InsiderTrades: Jan. insider sales alert

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its position in PTC Therapeutics by 3.0% during the second quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company’s stock worth $388,000 after buying an additional 231 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 236 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 295 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the period.

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.