Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Insider Sells $693,163.80 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 8,130 shares of PTC Therapeutics stock in a transaction on Friday, June 26th. The shares were sold at an average price of $85.26, for a total transaction of $693,163.80. Following the completion of the sale, the insider directly owned 60,137 shares in the company, valued at $5,127,280.62. This represents a 11.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.97, for a total transaction of $1,801,931.20.
• On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.03, for a total transaction of $452,614.69.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total transaction of $1,921,294.10.
• On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT remained flat at $81.57 during trading on Tuesday. The stock had a trading volume of 2,375,631 shares, compared to its average volume of 1,435,798. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50. The company has a market cap of $6.77 billion, a PE ratio of -35.01, a PEG ratio of 3.88 and a beta of 0.55. The stock has a fifty day moving average of $72.76 and a two-hundred day moving average of $72.14.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PTCT. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Morgan Stanley reissued an “overweight” rating and issued a $94.00 target price on shares of PTC Therapeutics in a research note on Friday, May 8th. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings lowered PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.36.

Institutional Trading of PTC Therapeutics

Several institutional investors have recently made changes to their positions in PTCT. EverSource Wealth Advisors LLC lifted its holdings in PTC Therapeutics by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 151 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of PTC Therapeutics by 8.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after acquiring an additional 244 shares in the last quarter. Allworth Financial LP increased its position in shares of PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 247 shares during the period. Measured Wealth Private Client Group LLC increased its position in shares of PTC Therapeutics by 5.6% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after acquiring an additional 265 shares during the period. Finally, Evolve Private Wealth LLC raised its stake in shares of PTC Therapeutics by 5.2% in the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock valued at $417,000 after acquiring an additional 305 shares in the last quarter.

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.