PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) insider Neil Gregory Almstead sold 24,613 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $88.89, for a total value of $2,187,849.57. Following the transaction, the insider directly owned 60,299 shares in the company, valued at $5,359,978.11. This trade represents a 28.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Gregory Almstead also recently made the following trade(s):
- On Monday, July 6th, Neil Gregory Almstead sold 22,161 shares of PTC Therapeutics stock. The stock was sold at an average price of $86.00, for a total value of $1,905,846.00.
- On Friday, June 26th, Neil Gregory Almstead sold 8,130 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.26, for a total value of $693,163.80.
- On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.97, for a total transaction of $1,801,931.20.
- On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.03, for a total transaction 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.
PTC Therapeutics Stock Down 0.7%
NASDAQ PTCT traded down $0.63 during trading hours on Wednesday, hitting $88.57. The company’s stock had a trading volume of 1,322,369 shares, compared to its average volume of 1,493,301. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $89.85. The firm has a market capitalization of $7.35 billion, a P/E ratio of -38.01, a PEG ratio of 3.93 and a beta of 0.53. The stock has a fifty day moving average of $74.39 and a 200 day moving average of $72.51.
Analyst Ratings Changes
PTCT has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Royal Bank Of Canada raised their target price on PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Finally, TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.57.
View Our Latest Stock Analysis on PTCT
Institutional Investors Weigh In On PTC Therapeutics
A number of hedge funds have recently modified their holdings of PTCT. UMB Bank n.a. bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $26,000. Comerica Bank increased its stake in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in PTC Therapeutics during the 4th quarter worth approximately $41,000. Allworth Financial LP raised its holdings in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the period. Finally, First Horizon Corp bought a new position in PTC Therapeutics in the fourth quarter valued at approximately $53,000.
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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