Mark Elliott Boulding Sells 10,462 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 10,462 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $78.65, for a total value of $822,836.30. Following the sale, the vice president directly owned 105,272 shares in the company, valued at $8,279,642.80. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Elliott Boulding also recently made the following trade(s):

• On Friday, May 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.18, for a total value of $202,970.16.
• On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.97, for a total value of $279,553.80.
• On Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.45, for a total value of $157,304.25.

PTC Therapeutics Trading Up 2.5%

NASDAQ:PTCT traded up $1.98 during midday trading on Monday, hitting $80.96. 2,399,709 shares of the company traded hands, compared to its average volume of 1,353,855. The firm has a market capitalization of $6.72 billion, a P/E ratio of -34.75, a P/E/G ratio of 3.63 and a beta of 0.56. The firm’s fifty day moving average is $71.37 and its 200-day moving average is $71.88. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the previous year, the business posted $10.04 earnings per share. The business’s revenue was up 43.5% compared to the same quarter last year. On average, research analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PTCT. Empowered Funds LLC purchased a new stake in PTC Therapeutics in the 1st quarter valued at about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after acquiring an additional 18,504 shares during the period. Quantbot Technologies LP raised its stake in shares of PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $1,661,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares during the period.

Analysts Set New Price Targets

PTCT has been the topic of several analyst reports. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a report on Friday, April 10th. They set an “outperform” rating and a $108.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Barclays reiterated an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $91.36.

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.