Mark Elliott Boulding Sells 85,600 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 85,600 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the completion of the sale, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. The trade was a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PTC Therapeutics Price Performance

Shares of PTCT opened at $48.04 on Friday. The business’s 50-day moving average is $41.49 and its 200-day moving average is $36.80. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -8.09 and a beta of 0.63. PTC Therapeutics, Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $54.16.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PTCT. Geode Capital Management LLC boosted its stake in shares of PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after buying an additional 10,886 shares during the period. Two Sigma Advisers LP raised its holdings in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after acquiring an additional 40,300 shares in the last quarter. Sphera Funds Management LTD. boosted its position in PTC Therapeutics by 25.5% during the third quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock valued at $4,391,000 after purchasing an additional 24,027 shares during the last quarter. State Street Corp grew its stake in PTC Therapeutics by 5.4% in the third 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. Finally, Point72 Asset Management L.P. grew its stake in PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after purchasing an additional 643,960 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lifted 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. Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $39.00 to $63.00 in a report on Tuesday. The Goldman Sachs Group upped their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company boosted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.38.

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.