Neil Gregory Almstead Sells 1,026 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,026 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.48, for a total value of $79,494.48. Following the transaction, the insider directly owned 116,077 shares in the company, valued at approximately $8,993,645.96. The trade was a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• 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 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 transaction 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 transaction of $98,419.05.
• On Monday, November 24th, Neil Gregory Almstead sold 35,572 shares of PTC Therapeutics stock. The shares were sold at an average price of $80.18, for a total transaction of $2,852,162.96.
• On Tuesday, November 25th, Neil Gregory Almstead sold 71,928 shares of PTC Therapeutics stock. The stock was sold at an average price of $83.44, for a total transaction of $6,001,672.32.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded down $0.39 during mid-day trading on Thursday, hitting $76.85. The company had a trading volume of 1,625,361 shares, compared to its average volume of 1,684,365. The company has a market capitalization of $6.17 billion, a PE ratio of 8.98 and a beta of 0.49. The business’s 50-day simple moving average is $76.43 and its 200 day simple moving average is $62.53. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.19) by $1.39. The company had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.PTC Therapeutics’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.39) EPS. On average, analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in PTC Therapeutics by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock valued at $301,856,000 after purchasing an additional 224,481 shares during the last quarter. State Street Corp increased its stake in PTC Therapeutics by 22.1% in the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock valued at $146,347,000 after purchasing an additional 541,558 shares during the period. Geode Capital Management LLC increased its stake in PTC Therapeutics by 3.2% in the second quarter. Geode Capital Management LLC now owns 1,934,593 shares of the biopharmaceutical company’s stock valued at $94,497,000 after purchasing an additional 60,707 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of PTC Therapeutics in the third quarter valued at about $97,252,000. Finally, Palo Alto Investors LP raised its holdings in shares of PTC Therapeutics by 112.2% in the third quarter. Palo Alto Investors LP now owns 862,613 shares of the biopharmaceutical company’s stock valued at $52,939,000 after buying an additional 456,144 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group boosted their target price on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group increased their price objective on PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. Royal Bank Of Canada lowered PTC Therapeutics from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $82.00 to $91.00 in a research report on Monday, December 1st. Barclays upped their price target on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Finally, Wells Fargo & Company increased their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.27.

Key PTC Therapeutics News

Here are the key news stories impacting PTC Therapeutics this week:

• Positive Sentiment: Recent fundamentals still supportive — PTC reported an earnings and revenue beat in its last quarter (Nov.) and maintains strong margins relative to peers, which underpins the stock’s valuation and analyst interest. MarketBeat PTCT profile
• Neutral Sentiment: Small inducement grant: the company approved 300 restricted stock units for a new non?executive employee on Jan. 2 — immaterial dilution and likely not a major near?term driver. PR Newswire: Inducement Grants
• Neutral Sentiment: Analyst consensus is a “Hold” with a mixed set of price targets and ratings — this produces limited conviction among buy?side actors and can temper short?term moves. Analyst consensus report
• Negative Sentiment: Heavy insider selling disclosed in multiple Form 4s — several executives and directors (including the CEO, CFO, EVP, VPs and others) sold several tens of thousands of shares across Jan. 6–7 at ~\$77 per share, representing millions of dollars of proceeds. Collective insider sales at this scale can put near?term downward pressure on the stock and signal to some investors that insiders are taking gains. The filings and aggregated alert are here for review. InsiderTrades: Jan. insider sales alert

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.