PTC Therapeutics (NASDAQ:PTCT) CEO Matthew Klein Sells 10,292 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 10,292 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $68.57, for a total transaction of $705,722.44. Following the completion of the transaction, the chief executive officer owned 383,868 shares of the company’s stock, valued at $26,321,828.76. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PTC Therapeutics Trading Up 2.4%

NASDAQ:PTCT opened at $70.85 on Friday. The company has a 50-day moving average price of $77.55 and a 200-day moving average price of $72.54. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $90.87. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of -122.16, a P/E/G ratio of 1.92 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The firm had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. During the same quarter in the previous year, the firm posted ($0.83) EPS. The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. Equities analysts forecast that PTC Therapeutics, Inc. will post 1.3 EPS for the current fiscal year.

Analyst Ratings Changes

PTCT has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their target price on PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a research report on Friday, May 8th. Weiss Ratings raised PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.75.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTCT. State of Wyoming bought a new position in shares of PTC Therapeutics during the second quarter valued at $139,000. Summit Global Investments bought a new position in PTC Therapeutics in the 2nd quarter worth about $615,000. Walleye Capital LLC bought a new position in PTC Therapeutics in the 2nd quarter worth about $1,592,000. Handelsbanken Fonder AB grew its position in PTC Therapeutics by 15.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 29,000 shares of the biopharmaceutical company’s stock valued at $2,366,000 after purchasing an additional 3,800 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in PTC Therapeutics by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 534 shares during the last quarter.

About PTC Therapeutics

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.