PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels Sells 1,599 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,599 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $72,498.66. Following the completion of the sale, the chief executive officer now directly owns 88,941 shares of the company’s stock, valued at $4,032,584.94. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PTC Therapeutics Trading Down 2.4 %

Shares of PTCT stock opened at $43.94 on Friday. PTC Therapeutics, Inc. has a twelve month low of $23.58 and a twelve month high of $54.16. The stock has a fifty day simple moving average of $45.19 and a two-hundred day simple moving average of $38.44. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTCT. Diversified Trust Co increased its position in PTC Therapeutics by 10.4% during the 4th quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock valued at $759,000 after purchasing an additional 1,578 shares during the period. Geode Capital Management LLC increased its holdings in PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after buying an additional 10,886 shares during the period. Two Sigma Advisers LP raised its stake in PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after buying an additional 40,300 shares in the last quarter. Sphera Funds Management LTD. lifted its holdings in PTC Therapeutics by 25.5% during the third quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock worth $4,391,000 after buying an additional 24,027 shares during the period. Finally, State Street Corp boosted its position in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after acquiring an additional 149,700 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on PTCT. Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. The Goldman Sachs Group raised their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. Wells Fargo & Company raised their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Citigroup upped their target price on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and an average target price of $54.08.

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.