Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Sells $44,037.90 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the sale, the chief accounting officer now owns 63,442 shares in the company, valued at approximately $3,178,444.20. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Christine Marie Utter also recently made the following trade(s):

• On Tuesday, January 7th, Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $58,533.94.
• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The stock was sold at an average price of $51.77, for a total value of $921,506.00.

PTC Therapeutics Stock Up 0.6 %

PTC Therapeutics stock traded up $0.31 during midday trading on Friday, reaching $50.69. The stock had a trading volume of 423,037 shares, compared to its average volume of 686,683. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $54.16. The company has a fifty day moving average of $46.58 and a 200 day moving average of $41.35.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Robert W. Baird raised their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group increased their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $67.00 in a report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and a consensus price target of $58.85.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in PTC Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock valued at $414,332,000 after acquiring an additional 53,688 shares during the period. Toronto Dominion Bank purchased a new stake in PTC Therapeutics in the fourth quarter worth $148,363,000. State Street Corp lifted its position in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock valued at $105,015,000 after purchasing an additional 455,698 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the last quarter.

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.