Neil Gregory Almstead Sells 1,300 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,300 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 $65,130.00. Following the completion of the sale, the insider now owns 101,931 shares of the company’s stock, valued at $5,106,743.10. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Neil Gregory Almstead also recently made the following trade(s):

• On Tuesday, January 7th, Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total transaction of $57,355.10.
• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00.

PTC Therapeutics Price Performance

PTC Therapeutics stock traded up $0.31 during mid-day trading on Friday, reaching $50.69. 423,037 shares of the company traded hands, compared to its average volume of 686,683. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $54.16. The firm’s fifty day moving average is $46.58 and its two-hundred day moving average is $41.35. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently made changes to their positions in PTCT. Smartleaf Asset Management LLC lifted its position in PTC Therapeutics by 78.7% during 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 period. Sterling Capital Management LLC raised its stake in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth about $68,000. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $77,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada upped their target price on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company upped their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Citigroup lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald boosted their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $45.00 to $67.00 in a report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PTC Therapeutics has an average rating of “Hold” and a consensus price target of $58.85.

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.