PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) insider Neil Gregory Almstead sold 20,960 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $85.97, for a total value of $1,801,931.20. Following the transaction, the insider directly owned 60,137 shares in the company, valued at $5,169,977.89. This represents a 25.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Gregory Almstead also recently made the following trade(s):
- On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.03, for a total value 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 stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12.
PTC Therapeutics Stock Down 0.1%
NASDAQ:PTCT opened at $84.43 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $87.50. The stock has a market cap of $7.00 billion, a PE ratio of -36.24, a price-to-earnings-growth ratio of 3.89 and a beta of 0.56. The firm’s fifty day simple moving average is $72.57 and its 200-day simple moving average is $72.12.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. UMB Bank n.a. purchased a new stake in PTC Therapeutics in the 4th quarter valued at approximately $26,000. Optiver Holding B.V. grew its holdings in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares during the last quarter. Comerica Bank increased its position in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics in the fourth quarter worth $41,000. Finally, Allworth Financial LP raised its holdings in shares of PTC Therapeutics by 63.8% in 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 last quarter.
Analyst Ratings Changes
PTCT has been the topic of a number of research reports. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Royal Bank Of Canada lifted their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report 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 research report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and set a $94.00 target price on shares of PTC Therapeutics in a research report on Friday, May 8th. Finally, Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.36.
Get Our Latest Stock Analysis on PTCT
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.
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