PTC Therapeutics, Inc. (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 1,265 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $57,355.10. Following the completion of the transaction, the insider now directly owns 104,783 shares in the company, valued at $4,750,861.22. This represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00.

PTC Therapeutics Stock Performance

PTCT opened at $43.94 on Friday. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The company has a 50-day moving average of $45.19 and a 200-day moving average of $38.44. The company has a market capitalization of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTCT. Charles Schwab Investment Management Inc. lifted its holdings in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after purchasing an additional 47,902 shares during the period. Two Sigma Advisers LP grew its holdings in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after buying an additional 40,300 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of PTC Therapeutics in the 3rd quarter valued at about $698,000. Quest Partners LLC lifted its position in PTC Therapeutics by 433.9% in the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after buying an additional 18,171 shares in the last quarter. Finally, State Street Corp grew its stake in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after purchasing an additional 149,700 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PTCT shares. Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $67.00 in a report on Friday, December 13th. Robert W. Baird increased their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $39.00 to $63.00 in a research report on Tuesday, December 3rd. Barclays lifted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, UBS Group lifted their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $54.08.

PTC Therapeutics Company Profile

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.