Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells 1,543 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,543 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $69,959.62. Following the transaction, the vice president now directly owns 108,846 shares in the company, valued at $4,935,077.64. This represents a 1.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00.

PTC Therapeutics Stock Down 2.4 %

Shares of PTCT traded down $1.10 during trading hours on Friday, reaching $43.94. 548,622 shares of the company traded hands, compared to its average volume of 529,154. PTC Therapeutics, Inc. has a 12 month low of $23.58 and a 12 month high of $54.16. The company’s fifty day moving average price is $45.12 and its two-hundred day moving average price is $38.39. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $64.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Citigroup increased their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Finally, UBS Group lifted their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.08.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Armistice Capital LLC boosted its holdings in PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after acquiring an additional 198,227 shares in the last quarter. State Street Corp grew its position in PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares during the period. Geode Capital Management LLC increased its position in PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after acquiring an additional 10,886 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of PTC Therapeutics by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock valued at $25,017,000 after purchasing an additional 56,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 during the period.

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.