PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter Sells 879 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 879 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the sale, the chief accounting officer now owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Christine Marie Utter also recently made the following trade(s):

• On Tuesday, January 7th, Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total value of $58,533.94.
• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The shares were sold at an average price of $51.77, for a total transaction of $921,506.00.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $50.69 on Friday. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $54.16. The business’s 50 day simple moving average is $46.67 and its two-hundred day simple moving average is $41.56. The firm has a market cap of $3.91 billion, a P/E ratio of -8.53 and a beta of 0.62.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 522 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics during the fourth quarter worth about $68,000. GF Fund Management CO. LTD. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth about $77,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PTCT shares. JPMorgan Chase & Co. upped their price objective on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $45.00 to $67.00 in a report on Friday, December 13th. Citigroup increased their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. UBS Group boosted their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

About PTC Therapeutics

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.