Short Interest in PTC Therapeutics, Inc. (NASDAQ:PTCT) Increases By 26.0%

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 5,420,000 shares, an increase of 26.0% from the March 15th total of 4,300,000 shares. Based on an average daily volume of 871,300 shares, the short-interest ratio is presently 6.2 days. Approximately 7.4% of the company's stock are sold short.

PTC Therapeutics Trading Up 0.1 %

PTCT stock traded up $0.07 during mid-day trading on Friday, reaching $49.62. The company's stock had a trading volume of 214,727 shares, compared to its average volume of 810,123. The stock has a market cap of $3.91 billion, a PE ratio of -8.35 and a beta of 0.58. The company's 50 day moving average is $50.07 and its two-hundred day moving average is $46.46. PTC Therapeutics has a fifty-two week low of $24.00 and a fifty-two week high of $58.38.

Insider Buying and Selling

In other PTC Therapeutics news, CFO Pierre Gravier sold 1,168 shares of PTC Therapeutics stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $58,516.80. Following the completion of the sale, the chief financial officer now owns 75,603 shares of the company's stock, valued at approximately $3,787,710.30. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew B. Klein sold 2,804 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total value of $136,666.96. Following the completion of the transaction, the chief executive officer now directly owns 273,234 shares of the company's stock, valued at approximately $13,317,425.16. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,305 shares of company stock worth $1,682,755 in the last quarter. Corporate insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of PTC Therapeutics during the 1st quarter worth approximately $524,000. Diversified Trust Co lifted its stake in PTC Therapeutics by 2.0% during the first quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock worth $874,000 after purchasing an additional 329 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of PTC Therapeutics during the first quarter worth $595,000. GAMMA Investing LLC grew its stake in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 441 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of PTC Therapeutics in the 1st quarter valued at $353,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTCT. Citigroup lifted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price target on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Royal Bank of Canada restated an "outperform" rating and set a $65.00 target price on shares of PTC Therapeutics in a research note on Tuesday. Cantor Fitzgerald increased their price target on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley reissued an "overweight" rating and set a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $63.92.

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.