PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $72,498.66 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,599 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $72,498.66. Following the sale, the chief executive officer now directly owns 88,941 shares in the company, valued at approximately $4,032,584.94. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PTC Therapeutics Price Performance

Shares of PTCT traded down $1.10 during mid-day trading on Friday, hitting $43.94. The stock had a trading volume of 548,622 shares, compared to its average volume of 529,154. The firm has a market cap of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62. PTC Therapeutics, Inc. has a 52 week low of $23.58 and a 52 week high of $54.16. The business has a fifty day moving average price of $45.12 and a 200-day moving average price of $38.39.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. UBS Group lifted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Robert W. Baird upped their price target on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Raymond James began coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating on the stock. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $54.08.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV grew its position in PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares in the last quarter. CWM LLC grew its holdings in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 worth $104,000 after purchasing an additional 492 shares during the period. Quest Partners LLC purchased a new stake in PTC Therapeutics during the second quarter valued at about $128,000. Finally, Quarry LP grew its stake in shares of PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 2,500 shares during the last quarter.

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.