Mark Elliott Boulding Sells 5,079 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Free Report) VP Mark Elliott Boulding sold 5,079 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $85.08, for a total value of $432,121.32. Following the completion of the transaction, the vice president directly owned 105,272 shares in the company, valued at $8,956,541.76. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Elliott Boulding also recently made the following trade(s):

  • On Wednesday, June 17th, Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.65, for a total value of $822,836.30.
  • On Friday, May 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The stock was sold at an average price of $72.18, for a total value of $202,970.16.
  • On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.97, for a total value of $279,553.80.

PTC Therapeutics Trading Down 0.7%

Shares of NASDAQ:PTCT traded down $0.63 during mid-day trading on Wednesday, reaching $88.57. The stock had a trading volume of 1,322,369 shares, compared to its average volume of 1,493,301. The firm has a 50 day simple moving average of $74.39 and a two-hundred day simple moving average of $72.51. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $89.85. The firm has a market cap of $7.35 billion, a PE ratio of -38.01, a price-to-earnings-growth ratio of 3.93 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the previous year, the company earned $10.04 earnings per share. The business’s revenue for the quarter was up 43.5% on a year-over-year basis. On average, equities analysts anticipate that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PTCT has been the topic of several research analyst reports. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. Finally, Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One investment 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 stock. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $91.57.

View Our Latest Research Report on PTCT

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PTCT. EverSource Wealth Advisors LLC lifted its position in PTC Therapeutics by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 151 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in PTC Therapeutics by 8.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 244 shares in the last quarter. Allworth Financial LP raised its stake in shares of PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares during the period. Measured Wealth Private Client Group LLC raised its stake in shares of PTC Therapeutics by 5.6% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after purchasing an additional 265 shares during the period. Finally, Evolve Private Wealth LLC lifted its holdings in shares of PTC Therapeutics by 5.2% in the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock valued at $417,000 after purchasing an additional 305 shares in the last quarter.

PTC Therapeutics Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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