Lee Scott Golden Sells 829 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 829 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total value of $56,363.71. Following the completion of the transaction, the executive vice president owned 79,115 shares in the company, valued at approximately $5,379,028.85. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Scott Golden also recently made the following trade(s):

• On Thursday, March 5th, Lee Scott Golden sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $63.38, for a total value of $633,800.00.
• On Wednesday, February 18th, Lee Scott Golden sold 2,484 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total value of $172,290.24.
• On Thursday, January 8th, Lee Scott Golden sold 866 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.45, for a total value of $66,205.70.
• On Wednesday, January 7th, Lee Scott Golden sold 642 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total value of $49,742.16.
• On Tuesday, January 6th, Lee Scott Golden sold 1,340 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total value of $103,113.00.

PTC Therapeutics Stock Performance

Shares of PTCT stock traded up $1.13 during mid-day trading on Monday, reaching $68.90. 770,402 shares of the company were exchanged, compared to its average volume of 1,231,020. The business’s 50 day simple moving average is $69.06 and its 200 day simple moving average is $71.13. The company has a market capitalization of $5.70 billion, a P/E ratio of 8.90 and a beta of 0.55. 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 posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The company had revenue of $164.68 million during the quarter, compared to analyst estimates of $281.45 million. During the same period in the prior year, the company earned ($0.85) earnings per share. The company’s revenue was down 22.7% on a year-over-year basis. On average, analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently modified their holdings of the business. UMB Bank n.a. bought a new position in PTC Therapeutics during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC boosted its stake in 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 buying an additional 236 shares in the last quarter. Optiver Holding B.V. boosted its stake in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares in the last quarter. Comerica Bank grew its holdings in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in PTC Therapeutics in the fourth quarter worth about $41,000.

Analyst Upgrades and Downgrades

PTCT has been the topic of several research analyst reports. TD Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Royal Bank Of Canada reduced their target price on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a report on Friday, February 20th. Bank of America decreased their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

About PTC Therapeutics

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.