PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $373,879.64 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the transaction, the chief executive officer now directly owns 217,528 shares of the company’s stock, valued at $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

PTC Therapeutics Stock Up 1.4 %

Shares of PTCT opened at $46.54 on Monday. The firm’s fifty day moving average is $44.78 and its two-hundred day moving average is $38.13. The stock has a market cap of $3.59 billion, a PE ratio of -7.84 and a beta of 0.62. PTC Therapeutics, Inc. has a 52-week low of $23.58 and a 52-week high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PTCT. Charles Schwab Investment Management Inc. lifted its stake in PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after purchasing an additional 47,902 shares in the last quarter. Two Sigma Advisers LP lifted its position in PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after buying an additional 40,300 shares in the last quarter. Intech Investment Management LLC purchased a new position in PTC Therapeutics during the third quarter worth approximately $698,000. Bank of New York Mellon Corp boosted its stake in PTC Therapeutics by 17.1% during the second quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company’s stock worth $8,533,000 after buying an additional 40,840 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in PTC Therapeutics by 433.9% in the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 18,171 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PTCT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. UBS Group increased their target price 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. Robert W. Baird lifted their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Barclays boosted their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $54.08.

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.