Matthew B. Klein Sells 10,739 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

by · The Cerbat Gem

PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) CEO Matthew B. Klein sold 10,739 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the transaction, the chief executive officer owned 337,767 shares in the company, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PTC Therapeutics Trading Down 2.2%

Shares of NASDAQ:PTCT opened at $51.11 on Wednesday. PTC Therapeutics, Inc. has a 12-month low of $29.01 and a 12-month high of $58.38. The company has a market capitalization of $4.05 billion, a PE ratio of 7.85 and a beta of 0.54. The business has a 50 day moving average of $49.40 and a two-hundred day moving average of $48.86.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $9.19. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the previous year, the company posted ($1.20) earnings per share. PTC Therapeutics’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PTCT. American Century Companies Inc. increased its position in shares of PTC Therapeutics by 66.8% in the fourth quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company’s stock valued at $2,715,000 after buying an additional 24,090 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $238,000. Alliancebernstein L.P. increased its position in shares of PTC Therapeutics by 62.9% during the fourth quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company’s stock worth $16,325,000 after purchasing an additional 139,596 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of PTC Therapeutics by 43.1% during the fourth quarter. Wells Fargo & Company MN now owns 38,148 shares of the biopharmaceutical company’s stock worth $1,722,000 after purchasing an additional 11,499 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth approximately $2,159,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PTCT shares. Truist Financial lifted their target price on PTC Therapeutics from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Robert W. Baird lowered their price target on PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Citigroup raised their price target on PTC Therapeutics from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. JPMorgan Chase & Co. lowered their price target on PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Finally, UBS Group raised their price target on PTC Therapeutics from $71.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.38.

Get Our Latest Analysis on PTC Therapeutics

About PTC Therapeutics

(Get Free Report)

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.

Featured Stories