Matthew Klein Sells 8,089 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

by · The Cerbat Gem

PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) CEO Matthew Klein sold 8,089 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $76.64, for a total transaction of $619,940.96. Following the completion of the transaction, the chief executive officer owned 341,875 shares in the company, valued at approximately $26,201,300. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PTC Therapeutics Stock Up 1.0%

Shares of NASDAQ PTCT traded up $0.78 during mid-day trading on Friday, reaching $76.74. 775,217 shares of the company were exchanged, compared to its average volume of 1,055,914. The stock has a market capitalization of $6.16 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.27 and a beta of 0.50. The company’s 50-day simple moving average is $75.47 and its 200-day simple moving average is $61.62. PTC Therapeutics, Inc. has a twelve month low of $35.95 and a twelve month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. The business had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. PTC Therapeutics’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.39) EPS. As a group, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analyst Ratings Changes

PTCT has been the subject of several recent research reports. Cowen restated a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Citigroup lifted their target price on PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Royal Bank Of Canada cut shares of PTC Therapeutics from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $82.00 to $91.00 in a research report on Monday, December 1st. TD Cowen raised their price target on shares of PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $76.00.

Read Our Latest Analysis on PTCT

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares during the period. Optiver Holding B.V. increased its holdings in PTC Therapeutics by 96.5% in 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 period. Comerica Bank raised its position in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares in the last quarter. IFP Advisors Inc raised its position in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 295 shares during the period.

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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