PTC Therapeutics (NASDAQ:PTCT) Director Allan Steven Jacobson Sells 12,000 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Allan Steven Jacobson sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $65.00, for a total value of $780,000.00. Following the completion of the sale, the director owned 17,451 shares of the company’s stock, valued at $1,134,315. This trade represents a 40.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Allan Steven Jacobson also recently made the following trade(s):

• On Thursday, August 28th, Allan Steven Jacobson sold 1,667 shares of PTC Therapeutics stock. The shares were sold at an average price of $50.15, for a total value of $83,600.05.
• On Thursday, August 28th, Allan Steven Jacobson sold 1,667 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.15, for a total value of $83,600.05.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $63.90 on Wednesday. The firm has a market capitalization of $5.08 billion, a PE ratio of 9.17 and a beta of 0.55. The stock has a fifty day moving average of $54.90 and a two-hundred day moving average of $50.34. PTC Therapeutics, Inc. has a 1 year low of $35.14 and a 1 year high of $67.40.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.24. The company had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.PTC Therapeutics’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PTCT shares. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Friday, August 8th. UBS Group increased their target price on PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Morgan Stanley decreased their target price on PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Truist Financial increased their target price on PTC Therapeutics from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Barclays increased their target price on PTC Therapeutics from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of PTC Therapeutics by 13.2% in the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company’s stock worth $276,161,000 after acquiring an additional 632,049 shares during the period. State Street Corp lifted its position in shares of PTC Therapeutics by 22.1% in the 2nd quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock worth $146,347,000 after acquiring an additional 541,558 shares during the period. Geode Capital Management LLC raised its holdings in shares of PTC Therapeutics by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,934,593 shares of the biopharmaceutical company’s stock worth $94,497,000 after buying an additional 60,707 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of PTC Therapeutics by 45.3% in the 1st quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company’s stock worth $77,084,000 after buying an additional 471,586 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of PTC Therapeutics in the 1st quarter worth approximately $51,427,000.

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.