Neil Gregory Almstead Sells 52,003 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 52,003 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the completion of the sale, the insider directly owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. The trade was a 46.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, March 5th, Neil Gregory Almstead sold 3,989 shares of PTC Therapeutics stock. The shares were sold at an average price of $63.38, for a total transaction of $252,822.82.
• On Wednesday, February 18th, Neil Gregory Almstead sold 65 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total transaction of $4,508.40.
• On Wednesday, February 18th, Neil Gregory Almstead sold 3,056 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $211,964.16.
• On Thursday, January 8th, Neil Gregory Almstead sold 59 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total transaction of $4,510.55.
• On Thursday, January 8th, Neil Gregory Almstead sold 881 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.45, for a total transaction of $67,352.45.
• On Wednesday, January 7th, Neil Gregory Almstead sold 52 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total value of $4,028.96.
• On Wednesday, January 7th, Neil Gregory Almstead sold 1,026 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total value of $79,494.48.
• On Tuesday, January 6th, Neil Gregory Almstead sold 54 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total value of $4,155.30.
• On Tuesday, January 6th, Neil Gregory Almstead sold 1,279 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total value of $98,419.05.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $67.77 on Friday. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The firm has a market capitalization of $5.61 billion, a PE ratio of 8.76 and a beta of 0.55. The business’s 50 day moving average price is $69.06 and its 200-day moving average price is $71.06.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The firm had revenue of $164.68 million during the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.85) earnings per share. As a group, analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Analyst Ratings Changes

PTCT has been the topic of several research reports. Barclays reissued an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Jefferies Financial Group downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the company from $91.00 to $76.00 in a report on Monday, March 30th. Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada cut their price target on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PTCT. Jefferies Financial Group Inc. purchased a new position in shares of PTC Therapeutics during the third quarter worth $97,252,000. Janus Henderson Group PLC raised its holdings in shares of PTC Therapeutics by 28.6% in the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock valued at $368,587,000 after buying an additional 1,077,776 shares during the period. State Street Corp lifted its stake in PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after acquiring an additional 1,071,343 shares in the last quarter. Toronto Dominion Bank boosted its holdings in PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in PTC Therapeutics by 4,013.1% during the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock valued at $62,945,000 after acquiring an additional 808,515 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.