Neil Gregory Almstead Sells 3,989 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 3,989 shares of PTC Therapeutics stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total transaction of $252,822.82. Following the transaction, the insider owned 2,737 shares in the company, valued at approximately $173,471.06. This trade represents a 59.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, February 18th, Neil Gregory Almstead sold 65 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total value of $4,508.40.
• On Wednesday, February 18th, Neil Gregory Almstead sold 3,056 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total value of $211,964.16.
• On Thursday, January 8th, Neil Gregory Almstead sold 59 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total value of $4,510.55.
• On Thursday, January 8th, Neil Gregory Almstead sold 881 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.45, for a total value of $67,352.45.
• On Wednesday, January 7th, Neil Gregory Almstead sold 52 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total value of $4,028.96.
• On Wednesday, January 7th, Neil Gregory Almstead sold 1,026 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total value of $79,494.48.
• On Tuesday, January 6th, Neil Gregory Almstead sold 54 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total transaction of $4,155.30.
• On Tuesday, January 6th, Neil Gregory Almstead sold 1,279 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total transaction of $98,419.05.

PTC Therapeutics Price Performance

Shares of PTCT traded up $5.58 during trading hours on Monday, hitting $68.40. 2,494,745 shares of the stock were exchanged, compared to its average volume of 1,317,297. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $87.50. The business has a 50-day moving average of $72.77 and a 200-day moving average of $69.45. The firm has a market capitalization of $5.66 billion, a P/E ratio of 8.84 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The firm had revenue of $164.68 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.85) EPS. As a group, analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Royal Bank Of Canada cut their price target on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a report on Friday, February 20th. Bank of America reduced their price objective on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Wall Street Zen downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.79.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds have recently made changes to their positions in the company. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake in PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares during the last quarter. 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 valued at $31,000 after purchasing 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 valued at $32,000 after purchasing 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 $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.