Pierre Gravier Sells 1,168 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier sold 1,168 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $58,516.80. Following the completion of the transaction, the chief financial officer now owns 75,603 shares of the company’s stock, valued at approximately $3,787,710.30. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $50.69 on Friday. The company has a market capitalization of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $54.16. The company has a 50 day simple moving average of $46.67 and a two-hundred day simple moving average of $41.56.

Analyst Ratings Changes

A number of brokerages recently issued reports on PTCT. Robert W. Baird raised their price objective 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. The Goldman Sachs Group raised their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Barclays raised their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $45.00 to $67.00 in a report on Friday, December 13th. Three 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.85.

Institutional Trading of PTC Therapeutics

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 270 shares during the period. 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 acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth approximately $68,000. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth approximately $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.