Neil Gregory Almstead Sells 3,989 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 3,989 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $63.38, for a total transaction of $252,822.82. Following the completion of the sale, the insider owned 2,737 shares of the company’s stock, valued at $173,471.06. This trade represents a 59.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Neil Gregory Almstead also recently made the following trade(s):

• On Wednesday, February 18th, Neil Gregory Almstead sold 65 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $4,508.40.
• On Wednesday, February 18th, Neil Gregory Almstead sold 3,056 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total transaction of $211,964.16.
• On Thursday, January 8th, Neil Gregory Almstead sold 59 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.45, for a total transaction of $4,510.55.
• On Thursday, January 8th, Neil Gregory Almstead sold 881 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total transaction of $67,352.45.
• On Wednesday, January 7th, Neil Gregory Almstead sold 52 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total value of $4,028.96.
• On Wednesday, January 7th, Neil Gregory Almstead sold 1,026 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total value of $79,494.48.
• On Tuesday, January 6th, Neil Gregory Almstead sold 54 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total value of $4,155.30.
• On Tuesday, January 6th, Neil Gregory Almstead sold 1,279 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total value of $98,419.05.

PTC Therapeutics Trading Up 8.9%

NASDAQ PTCT traded up $5.58 on Monday, reaching $68.40. 2,494,745 shares of the company were exchanged, compared to its average volume of 1,317,297. The business’s fifty day moving average price is $72.77 and its 200 day moving average price is $69.45. The stock has a market capitalization of $5.66 billion, a P/E ratio of 8.84 and a beta of 0.51. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The company had revenue of $164.68 million during the quarter, compared to analyst estimates of $281.45 million. During the same period last year, the business earned ($0.85) earnings per share. The firm’s revenue was down 22.7% compared to the same quarter last year. Equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a research report on Friday, February 20th. Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Wells Fargo & Company reduced their price target on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Finally, Barclays reiterated an “overweight” rating and issued a $120.00 price objective on shares of PTC Therapeutics in a report on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.79.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PTCT. UMB Bank n.a. purchased a new position in PTC Therapeutics during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC increased its position in shares of PTC Therapeutics by 101.3% during the third 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 during the last quarter. Optiver Holding B.V. raised its stake 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 valued at $31,000 after acquiring an additional 249 shares during the period. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $41,000.

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.