Insider Selling: PTC Therapeutics (NASDAQ:PTCT) EVP Sells 829 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 829 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total value of $56,363.71. Following the transaction, the executive vice president directly owned 79,115 shares in the company, valued at approximately $5,379,028.85. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Scott Golden also recently made the following trade(s):

• On Thursday, March 5th, Lee Scott Golden sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $63.38, for a total value of $633,800.00.
• On Wednesday, February 18th, Lee Scott Golden sold 2,484 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $172,290.24.
• On Thursday, January 8th, Lee Scott Golden sold 866 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total transaction of $66,205.70.
• On Wednesday, January 7th, Lee Scott Golden sold 642 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total transaction of $49,742.16.
• On Tuesday, January 6th, Lee Scott Golden sold 1,340 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total value of $103,113.00.

PTC Therapeutics Stock Performance

Shares of PTCT traded up $1.13 during trading hours on Monday, hitting $68.90. The stock had a trading volume of 770,402 shares, compared to its average volume of 1,231,020. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $87.50. The firm has a market cap of $5.70 billion, a P/E ratio of 8.90 and a beta of 0.55. The company’s fifty day simple moving average is $69.06 and its 200 day simple moving average is $71.13.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). The firm had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. PTC Therapeutics’s revenue was down 22.7% on a year-over-year basis. During the same period last year, the firm posted ($0.85) EPS. As a group, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on PTCT shares. Jefferies Financial Group cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $91.00 to $76.00 in a research report on Monday, March 30th. Wells Fargo & Company cut their target price on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Royal Bank Of Canada reduced their target price on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a report on Friday, February 20th. Morgan Stanley upped their price target on shares of PTC Therapeutics from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.71.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently made changes to their positions in PTCT. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 236 shares during the period. Optiver Holding B.V. lifted its holdings in PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares in the last quarter. Comerica Bank lifted its holdings in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in PTC Therapeutics in the 4th quarter valued at about $41,000.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.