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

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 52,003 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the sale, the insider directly owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. This trade represents a 46.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 shares were 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 transaction of $4,028.96.
• On Wednesday, January 7th, Neil Gregory Almstead sold 1,026 shares of PTC Therapeutics stock. The shares were 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 stock was 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 stock was sold at an average price of $76.95, for a total value of $98,419.05.

PTC Therapeutics Stock Performance

PTC Therapeutics stock remained flat at $67.77 during midday trading on Friday. The company had a trading volume of 483,009 shares, compared to its average volume of 1,155,588. The business’s 50 day moving average price is $69.21 and its two-hundred day moving average price is $70.92. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The company has a market cap of $5.61 billion, a PE ratio of 8.76 and a beta of 0.55.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $91.00 to $76.00 in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Royal Bank Of Canada decreased their target price on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC bought a new position in PTC Therapeutics during the first quarter valued at $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PTC Therapeutics by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after acquiring an additional 18,504 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of PTC Therapeutics by 6.0% during the 2nd quarter. Rhumbline Advisers now owns 118,539 shares of the biopharmaceutical company’s stock worth $5,789,000 after purchasing an additional 6,726 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of PTC Therapeutics by 865.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 131,749 shares of the biopharmaceutical company’s stock worth $6,435,000 after purchasing an additional 118,105 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in PTC Therapeutics by 69.4% during the 2nd quarter. Hsbc Holdings PLC now owns 30,010 shares of the biopharmaceutical company’s stock valued at $1,469,000 after purchasing an additional 12,299 shares during the last quarter.

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.