Stephanie Okey Sells 5,000 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the transaction, the director now owns 8,867 shares of the company’s stock, valued at approximately $478,818. This represents a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PTC Therapeutics Stock Performance

Shares of PTCT stock traded up $2.67 on Monday, hitting $57.17. The company’s stock had a trading volume of 828,107 shares, compared to its average volume of 731,511. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.99. The company has a market capitalization of $4.51 billion, a PE ratio of -9.62 and a beta of 0.66. The stock’s 50 day moving average is $48.60 and its 200-day moving average is $43.63.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. UBS Group raised their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley restated 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. Barclays boosted their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Citigroup raised their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Institutional Trading of PTC Therapeutics

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock worth $414,332,000 after purchasing an additional 53,688 shares during the period. Toronto Dominion Bank bought a new position in PTC Therapeutics during the 4th quarter worth $148,363,000. State Street Corp raised its holdings in PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after acquiring an additional 149,700 shares in the last quarter. Janus Henderson Group PLC raised its holdings in PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock valued at $105,015,000 after acquiring an additional 455,698 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after acquiring an additional 10,886 shares during the period.

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.