PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $373,879.64 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 8,279 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the sale, the chief executive officer now owns 217,528 shares in the company, valued at $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $46.54 on Friday. The company’s 50 day simple moving average is $44.78 and its 200 day simple moving average is $38.11. PTC Therapeutics, Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The firm has a market capitalization of $3.59 billion, a P/E ratio of -7.84 and a beta of 0.62.

Analyst Ratings Changes

Several equities research analysts have recently commented on PTCT shares. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Robert W. Baird raised their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Citigroup raised their price target on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics has a consensus rating of “Hold” and an average price target of $54.08.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PTCT. KBC Group NV increased its holdings in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares during the last quarter. CWM LLC lifted its stake in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC acquired a new position in shares of PTC Therapeutics during the second quarter worth about $128,000. Finally, Quarry LP boosted its position in PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 2,500 shares during the last quarter.

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.