PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew B. Klein sold 2,804 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the sale, the chief executive officer now owns 273,234 shares of the company's stock, valued at $13,317,425.16. This trade represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.
PTC Therapeutics Price Performance
NASDAQ PTCT opened at $49.55 on Friday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.34 and a beta of 0.58. The business's fifty day moving average is $50.07 and its 200-day moving average is $46.46. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $58.38.
Wall Street Analyst Weigh In
PTCT has been the subject of several recent research reports. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Cantor Fitzgerald boosted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Bank of America upgraded PTC Therapeutics from an "underperform" rating to a "neutral" rating and raised their target price for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 price target on shares of PTC Therapeutics in a report on Tuesday. Finally, Scotiabank initiated coverage on PTC Therapeutics in a research note on Friday, March 7th. They set a "sector perform" rating and a $55.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $63.92.
View Our Latest Stock Analysis on PTCT
Institutional Trading of PTC Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co grew its position in shares of PTC Therapeutics by 10.4% during the 4th quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company's stock valued at $759,000 after acquiring an additional 1,578 shares during the period. Janney Montgomery Scott LLC lifted its stake in PTC Therapeutics by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company's stock valued at $269,000 after purchasing an additional 455 shares during the last quarter. KBC Group NV grew its holdings in PTC Therapeutics by 36.4% during the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock valued at $137,000 after purchasing an additional 813 shares during the period. R Squared Ltd purchased a new stake in PTC Therapeutics in the fourth quarter worth $79,000. Finally, China Universal Asset Management Co. Ltd. increased its position in PTC Therapeutics by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,353 shares of the biopharmaceutical company's stock worth $738,000 after buying an additional 1,558 shares during the last quarter.
About PTC Therapeutics
(
Get Free Report)
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.
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