Mark Elliott Boulding Sells 22,655 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

Key Points

• Mark Elliott Boulding, VP of PTC Therapeutics, sold 22,655 shares of the company's stock for approximately $1.49 million, reducing his total holdings by 17.90%.
• PTC Therapeutics stock has experienced a 1.4% decline, trading at $63.90, with a market capitalization of $5.08 billion.
• The company reported a loss of ($0.83) EPS for its last quarter, which was better than analysts' expectations, and plans to forecast -4.52 EPS for the current fiscal year.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 22,655 shares of the firm's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $65.82, for a total transaction of $1,491,152.10. Following the sale, the vice president owned 103,901 shares in the company, valued at approximately $6,838,763.82. This represents a 17.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mark Elliott Boulding also recently made the following trade(s):

• On Monday, October 6th, Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock. The stock was sold at an average price of $65.07, for a total transaction of $147,448.62.
• On Thursday, September 11th, Mark Elliott Boulding sold 22,664 shares of PTC Therapeutics stock. The shares were sold at an average price of $61.00, for a total value of $1,382,504.00.
• On Friday, September 12th, Mark Elliott Boulding sold 24,585 shares of PTC Therapeutics stock. The stock was sold at an average price of $61.34, for a total value of $1,508,043.90.

PTC Therapeutics Stock Down 1.4%

Shares of PTC Therapeutics stock traded down $0.90 on Tuesday, reaching $63.90. The company's stock had a trading volume of 1,057,052 shares, compared to its average volume of 1,118,233. The company has a market capitalization of $5.08 billion, a P/E ratio of 9.17 and a beta of 0.55. The stock has a 50-day moving average price of $54.61 and a 200-day moving average price of $50.25. PTC Therapeutics, Inc. has a 52-week low of $35.14 and a 52-week high of $67.40.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.07) by $0.24. The firm had revenue of $178.88 million for the quarter, compared to analysts' expectations of $173.01 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP raised its position in PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 551 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 320 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 441 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after buying an additional 814 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PTC Therapeutics during the 1st quarter worth about $61,000.

Analyst Ratings Changes

PTCT has been the subject of several research analyst reports. Wall Street Zen downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup raised their target price on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. UBS Group increased their price target on PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Wells Fargo & Company lowered their price objective on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Finally, Cowen reaffirmed a "hold" rating on shares of PTC Therapeutics in a research note on Friday, August 8th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

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.

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