Mark Elliott Boulding Sells 2,266 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

Key Points

• Mark Elliott Boulding, VP of PTC Therapeutics, sold a total of 2,266 shares on October 6th for approximately $147,448.62, which reduced his stake in the company by 2.13% to 103,901 shares.
• PTC Therapeutics' stock is currently valued at $63.90, with a recent 50-day moving average of $54.61 and a market cap of $5.08 billion.
• The company's earnings report for August indicated a loss of ($0.83) earnings per share, which exceeded analysts' estimates, with a revenue total of $178.88 million.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 2,266 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $65.07, for a total transaction of $147,448.62. Following the completion of the sale, the vice president owned 103,901 shares in the company, valued at $6,760,838.07. This represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 3rd, Mark Elliott Boulding sold 22,655 shares of PTC Therapeutics stock. The stock was sold at an average price of $65.82, for a total transaction of $1,491,152.10.
• On Thursday, September 11th, Mark Elliott Boulding sold 22,664 shares of PTC Therapeutics stock. The stock was sold at an average price of $61.00, for a total transaction of $1,382,504.00.
• On Friday, September 12th, Mark Elliott Boulding sold 24,585 shares of PTC Therapeutics stock. The shares were sold at an average price of $61.34, for a total transaction of $1,508,043.90.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded down $0.90 during midday trading on Tuesday, hitting $63.90. 1,057,052 shares of the company's stock were exchanged, compared to its average volume of 1,118,233. The stock has a 50 day moving average price of $54.61 and a 200-day moving average price of $50.25. The company has a market cap of $5.08 billion, a PE ratio of 9.17 and a beta of 0.55. PTC Therapeutics, Inc. has a 12 month low of $35.14 and a 12 month high of $67.40.

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

Institutional Trading of PTC Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP lifted its stake in PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $49,000 after acquiring an additional 441 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 814 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in PTC Therapeutics in the 1st quarter worth approximately $61,000.

Wall Street Analyst Weigh In

Several research analysts have commented on PTCT shares. Wells Fargo & Company decreased their price objective on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 price target on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Truist Financial raised their price objective on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Barclays lifted their price target on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Citigroup lifted their price target 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. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PTC Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

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.

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