PTC Therapeutics, Inc. (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 69,550 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 69,550 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the sale, the insider now directly owns 86,202 shares in the company, valued at $4,487,676.12. This trade represents a 44.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

PTC Therapeutics Trading Down 0.9 %

NASDAQ:PTCT opened at $49.86 on Thursday. PTC Therapeutics, Inc. has a one year low of $23.58 and a one year high of $54.16. The firm’s 50 day simple moving average is $41.06 and its 200 day simple moving average is $36.66.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PTCT shares. Raymond James started coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating on the stock. StockNews.com upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Citigroup raised their price target on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $52.38.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTCT. KBC Group NV raised its holdings in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares during the last quarter. CWM LLC increased its stake in shares of PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC bought a new stake in shares of PTC Therapeutics in the 2nd quarter valued at $128,000. Finally, Quarry LP increased its stake in shares of PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 2,500 shares in the last quarter.

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.