Matthew B. Klein Sells 3,361 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 3,361 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now directly owns 225,807 shares in the company, valued at $5,620,336.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PTC Therapeutics Trading Up 2.6 %

PTC Therapeutics stock traded up $0.65 during trading hours on Monday, reaching $25.97. 647,499 shares of the stock were exchanged, compared to its average volume of 970,281. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $59.84. The stock has a 50 day moving average of $28.08 and a two-hundred day moving average of $25.69.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The business had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. On average, analysts forecast that PTC Therapeutics, Inc. will post -5.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of PTCT. Hexagon Capital Partners LLC boosted its stake in shares of PTC Therapeutics by 132.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 557 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of PTC Therapeutics by 99.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 969 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics in the 1st quarter valued at approximately $46,000. Nisa Investment Advisors LLC boosted its stake in shares of PTC Therapeutics by 317.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of PTC Therapeutics by 248.0% in the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 3,338 shares in the last quarter.

Analyst Ratings Changes

PTCT has been the topic of several research analyst reports. Royal Bank of Canada increased their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a research report on Friday, March 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, April 12th. TD Cowen dropped their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Finally, Jefferies Financial Group increased their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.53.

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.