PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 15,521 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the transaction, the vice president now owns 103,901 shares in the company, valued at $5,537,923.30. This represents a 13.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mark Elliott Boulding also recently made the following trade(s):

• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.10, for a total value of $66,783.30.
• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $69,959.62.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $54.50 on Friday. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $55.65. The business has a 50 day simple moving average of $48.60 and a two-hundred day simple moving average of $43.51. The stock has a market capitalization of $4.30 billion, a PE ratio of -9.18 and a beta of 0.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank bought a new position in PTC Therapeutics during the fourth quarter valued at $148,363,000. Driehaus Capital Management LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $46,993,000. Point72 Asset Management L.P. raised its position in shares of PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock valued at $65,153,000 after buying an additional 867,502 shares in the last quarter. Janus Henderson Group PLC grew its position in PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after acquiring an additional 455,698 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in PTC Therapeutics by 107.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock worth $33,241,000 after acquiring an additional 381,319 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PTCT shares. Robert W. Baird lifted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. UBS Group increased their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Barclays lifted their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.