PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein Sells 2,804 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 2,804 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total value of $136,666.96. Following the transaction, the chief executive officer now owns 273,234 shares of the company’s stock, valued at approximately $13,317,425.16. This trade represents a 1.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

PTC Therapeutics Trading Down 0.0 %

NASDAQ:PTCT opened at $49.53 on Friday. The stock has a 50 day simple moving average of $50.07 and a 200 day simple moving average of $46.52. PTC Therapeutics, Inc. has a 1-year low of $25.67 and a 1-year high of $58.38. The stock has a market cap of $3.91 billion, a P/E ratio of -8.34 and a beta of 0.58.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. Morgan Stanley restated an “overweight” rating and set a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Citigroup raised their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price target on shares of PTC Therapeutics in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.92.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently modified their holdings of PTCT. Toronto Dominion Bank bought a new stake in PTC Therapeutics in the 4th quarter valued at about $148,363,000. Driehaus Capital Management LLC acquired a new stake in PTC Therapeutics during the fourth quarter worth approximately $46,993,000. Point72 Asset Management L.P. increased its stake in PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after acquiring an additional 867,502 shares during the period. Janus Henderson Group PLC raised its holdings in PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock valued at $105,015,000 after acquiring an additional 455,698 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock valued at $33,241,000 after acquiring an additional 381,319 shares during the period.

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.