PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier Sells 1,168 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier sold 1,168 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $58,516.80. Following the completion of the transaction, the chief financial officer now directly owns 75,603 shares of the company’s stock, valued at approximately $3,787,710.30. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded up $0.31 during trading hours on Friday, hitting $50.69. The stock had a trading volume of 423,037 shares, compared to its average volume of 686,683. The business’s 50 day moving average is $46.58 and its 200-day moving average is $41.35. The company has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC lifted its holdings in PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Creative Planning raised its position in shares of PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 816 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of PTC Therapeutics by 32.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock valued at $18,270,000 after purchasing an additional 119,637 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position 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 purchasing an additional 492 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of PTC Therapeutics by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock valued at $549,000 after purchasing an additional 5,783 shares during the period.

Analyst Ratings Changes

A number of brokerages recently weighed in on PTCT. Cantor Fitzgerald raised their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Robert W. Baird lifted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Citigroup upped their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday. Finally, Royal Bank of Canada lifted their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

PTC Therapeutics Company Profile

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.