Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells 1,378 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $69,037.80. Following the sale, the chief executive officer now directly owns 85,427 shares in the company, valued at $4,279,892.70. This represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Eric Pauwels also recently made the following trade(s):

• On Tuesday, January 7th, Eric Pauwels sold 1,599 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total value of $72,498.66.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded up $0.31 during midday trading on Friday, hitting $50.69. 423,037 shares of the stock traded hands, compared to its average volume of 686,683. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $54.16. The business has a 50 day moving average price of $46.58 and a two-hundred day moving average price of $41.35. The company has a market cap of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62.

Analyst Ratings Changes

Several brokerages recently issued reports on PTCT. Robert W. Baird lifted their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup upped their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. UBS Group upped their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Institutional Trading of PTC Therapeutics

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

PTC Therapeutics Company Profile

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.