Christine Marie Utter Sells 19,686 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 19,686 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the sale, the chief accounting officer directly owned 70,199 shares in the company, valued at approximately $5,304,236.44. This represents a 21.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

PTC Therapeutics stock traded up $1.98 during mid-day trading on Monday, reaching $80.96. The company had a trading volume of 2,399,709 shares, compared to its average volume of 1,353,855. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $87.50. The company has a market capitalization of $6.72 billion, a P/E ratio of -34.75, a P/E/G ratio of 3.63 and a beta of 0.56. The stock’s 50-day simple moving average is $71.37 and its 200-day simple moving average is $71.88.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. The company had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period last year, the firm earned $10.04 EPS. On average, equities analysts forecast that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Trading of PTC Therapeutics

A number of large investors have recently made changes to their positions in PTCT. Vanguard Group Inc. increased its stake in PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after acquiring an additional 514,204 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after purchasing an additional 2,342,101 shares during the period. Wellington Management Group LLP grew its holdings in shares of PTC Therapeutics by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after purchasing an additional 224,481 shares during the period. State Street Corp increased its position in PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after purchasing an additional 891,690 shares in the last quarter.

Wall Street Analyst Weigh In

PTCT has been the topic of several research reports. Raymond James Financial began coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. Weiss Ratings lowered shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Barclays restated an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a report on Monday, February 23rd. Finally, Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.36.

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.