Matthew Klein Sells 2,850 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

Key Points

• CEO Matthew Klein sold 2,850 shares on April 21 at an average price of $70.91 for $202,093.50 under a pre‑arranged Rule 10b5‑1 plan to cover tax withholding, trimming his stake by 0.72% to 394,070 shares.
• Big quarterly miss: On Feb. 19 PTC reported EPS of $(1.67) vs. $(0.21) expected and revenue of $164.7M vs. $281.5M expected (down 22.7% YoY); the stock traded near $68.59, with a market cap of $5.68B and a 52‑week range of $35.95–$87.50.
• Institutional buying has increased (notably Janus Henderson, State Street, TD Bank and BNP Paribas) and analysts hold a consensus "Moderate Buy" rating with a $84.40 average target, though individual ratings and targets vary.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew Klein sold 2,850 shares of the company's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $70.91, for a total transaction of $202,093.50. Following the sale, the chief executive officer directly owned 394,070 shares of the company's stock, valued at approximately $27,943,503.70. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PTC Therapeutics Price Performance

NASDAQ PTCT traded down $2.26 during trading hours on Thursday, hitting $68.59. 657,409 shares of the company's stock traded hands, compared to its average volume of 1,170,735. PTC Therapeutics, Inc. has a 52-week low of $35.95 and a 52-week high of $87.50. The company has a market capitalization of $5.68 billion, a PE ratio of 8.86 and a beta of 0.55. The firm's 50-day moving average is $68.20 and its 200-day moving average is $71.97.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business had revenue of $164.68 million for the quarter, compared to analysts' expectations of $281.45 million. During the same period in the prior year, the company posted ($0.85) EPS. The firm's revenue was down 22.7% on a year-over-year basis. Equities research analysts predict that PTC Therapeutics, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Jefferies Financial Group Inc. purchased a new stake in PTC Therapeutics in the third quarter valued at $97,252,000. Janus Henderson Group PLC raised its position in PTC Therapeutics by 28.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company's stock valued at $368,587,000 after purchasing an additional 1,077,776 shares during the period. State Street Corp lifted its holdings in shares of PTC Therapeutics by 34.2% in the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock worth $319,497,000 after acquiring an additional 1,071,343 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of PTC Therapeutics by 27.5% in the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock worth $314,339,000 after acquiring an additional 891,690 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company's stock worth $62,945,000 after acquiring an additional 808,515 shares during the last quarter.

Analysts Set New Price Targets

PTCT has been the subject of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Morgan Stanley upped their price objective on shares of PTC Therapeutics from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Jefferies Financial Group cut shares of PTC Therapeutics from a "buy" rating to a "hold" rating and dropped their price target for the company from $91.00 to $76.00 in a research note on Monday, March 30th. Wells Fargo & Company dropped their price target on shares of PTC Therapeutics from $93.00 to $86.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Finally, Raymond James Financial began coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They issued an "outperform" rating and a $108.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.40.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company's research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC's approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.

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