PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $69,037.80 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,378 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $69,037.80. Following the completion of the sale, the chief executive officer now directly owns 85,427 shares of the company’s stock, valued at $4,279,892.70. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Eric Pauwels also recently made the following trade(s):

• On Tuesday, January 7th, Eric Pauwels sold 1,599 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total transaction of $72,498.66.

PTC Therapeutics Price Performance

Shares of PTCT traded up $0.31 during trading hours on Friday, hitting $50.69. The company’s stock had a trading volume of 423,037 shares, compared to its average volume of 686,683. The business has a 50 day simple moving average of $46.58 and a two-hundred day simple moving average of $41.35. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $54.16. The company has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62.

Wall Street Analyst Weigh In

PTCT has been the subject of several recent analyst reports. UBS Group upped their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday. Finally, Cantor Fitzgerald raised their price objective 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. Three analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock worth $414,332,000 after acquiring an additional 53,688 shares in the last quarter. Toronto Dominion Bank bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at $148,363,000. State Street Corp lifted its holdings in PTC Therapeutics by 5.4% during 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 in the last quarter. Janus Henderson Group PLC boosted its stake in PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after purchasing an additional 455,698 shares during the period. Finally, Geode Capital Management LLC boosted its stake in PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the period.

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.