Neil Gregory Almstead Sells 69,550 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00. Following the sale, the insider now directly owns 86,202 shares of the company’s stock, valued at approximately $4,487,676.12. This trade represents a 44.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PTC Therapeutics Stock Down 0.9 %

Shares of PTCT traded down $0.43 during mid-day trading on Wednesday, reaching $49.86. The company had a trading volume of 941,523 shares, compared to its average volume of 857,446. The stock has a market capitalization of $3.85 billion, a P/E ratio of -8.47 and a beta of 0.63. The stock has a 50 day moving average of $40.80 and a two-hundred day moving average of $36.57. PTC Therapeutics, Inc. has a 52-week low of $23.58 and a 52-week high of $54.16.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. KBC Group NV grew its holdings in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares during the period. CWM LLC raised its position 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 worth $100,000 after purchasing an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 buying an additional 492 shares during the last quarter. Quest Partners LLC purchased a new stake in PTC Therapeutics during the 2nd quarter worth approximately $128,000. Finally, Quarry LP increased its position 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 worth $153,000 after purchasing an additional 2,500 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. UBS Group boosted their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $39.00 to $63.00 in a research report on Tuesday. Baird R W upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.38.

PTC Therapeutics Company Profile

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.