PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter Sells 879 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the transaction, the chief accounting officer now owns 63,442 shares in the company, valued at approximately $3,178,444.20. This represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Christine Marie Utter also recently made the following trade(s):

• On Tuesday, January 7th, Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94.
• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The shares were sold at an average price of $51.77, for a total transaction of $921,506.00.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $50.69 on Monday. The business’s fifty day moving average is $46.67 and its 200 day moving average is $41.62. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $54.16.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company raised their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, 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. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.85.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 270 shares during the last quarter. Sterling Capital Management LLC grew its stake in PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 522 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of PTC Therapeutics in the 4th quarter worth $68,000. GF Fund Management CO. LTD. bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in PTC Therapeutics in the 4th quarter worth approximately $77,000.

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.