Neil Gregory Almstead Sells 1,265 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,265 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $57,355.10. Following the completion of the sale, the insider now owns 104,783 shares of the company’s stock, valued at approximately $4,750,861.22. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Neil Gregory Almstead also recently made the following trade(s):

• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $43.94 on Friday. The company’s fifty day moving average is $45.19 and its two-hundred day moving average is $38.47. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co boosted its stake in PTC Therapeutics by 10.4% in the fourth quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock valued at $759,000 after acquiring an additional 1,578 shares during the period. Geode Capital Management LLC boosted its position in 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 purchasing an additional 10,886 shares during the period. Two Sigma Advisers LP grew its stake in PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after buying an additional 40,300 shares during the last quarter. Sphera Funds Management LTD. increased its position in PTC Therapeutics by 25.5% in the third quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock worth $4,391,000 after buying an additional 24,027 shares during the period. Finally, State Street Corp increased its position 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 worth $107,554,000 after buying an additional 149,700 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PTCT shares. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $45.00 to $67.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. UBS Group raised 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 lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three investment 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 company. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and a consensus target price of $54.08.

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.