PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells $69,959.62 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,543 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $69,959.62. Following the sale, the vice president now directly owns 108,846 shares of the company’s stock, valued at approximately $4,935,077.64. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00.

PTC Therapeutics Stock Performance

PTCT opened at $43.94 on Monday. The stock’s 50 day moving average price is $45.19 and its 200-day moving average price is $38.49. PTC Therapeutics, Inc. has a one year low of $23.58 and a one year high of $54.16. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co lifted its holdings in PTC Therapeutics by 10.4% during the 4th quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock valued at $759,000 after buying an additional 1,578 shares in the last quarter. Geode Capital Management LLC grew its stake in PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares in the last quarter. Two Sigma Advisers LP grew its stake in PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after purchasing an additional 40,300 shares in the last quarter. Sphera Funds Management LTD. increased its holdings in PTC Therapeutics by 25.5% during the 3rd quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock worth $4,391,000 after purchasing an additional 24,027 shares during the period. Finally, State Street Corp raised its position in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after purchasing an additional 149,700 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays increased their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Citigroup boosted their price target on shares of PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and an average target price of $54.08.

PTC Therapeutics Company Profile

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.