Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Sells 1,291 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 1,291 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the sale, the chief accounting officer now directly owns 65,983 shares of the company’s stock, valued at approximately $2,991,669.22. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Christine Marie Utter also recently made the following trade(s):

• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The stock was sold at an average price of $51.77, for a total value of $921,506.00.

PTC Therapeutics Stock Down 2.4 %

PTCT stock traded down $1.10 on Friday, reaching $43.94. 548,622 shares of the company’s stock were exchanged, compared to its average volume of 529,154. The firm has a market cap of $3.39 billion, a PE ratio of -7.40 and a beta of 0.62. PTC Therapeutics, Inc. has a twelve month low of $23.58 and a twelve month high of $54.16. The stock has a fifty day moving average of $45.12 and a 200-day moving average of $38.39.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PTCT. Armistice Capital LLC boosted its position in PTC Therapeutics by 2.9% during the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after purchasing an additional 198,227 shares in the last quarter. State Street Corp boosted its stake in shares of 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 during the last quarter. Geode Capital Management LLC grew 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 acquiring an additional 10,886 shares during the period. Renaissance Technologies LLC grew its position in shares of PTC Therapeutics by 7.4% in the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock valued at $25,017,000 after purchasing an additional 56,700 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after acquiring an additional 47,902 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup increased their price objective on shares of PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald restated an “overweight” rating and set a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Wells Fargo & Company raised their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays boosted their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird boosted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $54.08.

About PTC Therapeutics

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.