Neil Gregory Almstead Sells 1,265 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,265 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $57,355.10. Following the completion of the transaction, the insider now directly owns 104,783 shares of the company’s stock, valued at approximately $4,750,861.22. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00.

PTC Therapeutics Stock Down 2.4 %

PTCT opened at $43.94 on Friday. The business’s fifty day simple moving average is $45.19 and its 200 day simple moving average is $38.44. The stock 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 52 week low of $23.58 and a 52 week high of $54.16.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Barclays boosted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. UBS Group boosted their target price on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup upped their target price on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics 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.