PTC Therapeutics (NASDAQ:PTCT) Director Mary Smith Sells 15,834 Shares of Stock

Key Points

• Director Mary Smith sold 15,834 shares of PTC Therapeutics at $90.00 each, totaling about $1.43 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• After the transaction, Smith still owned 21,813 shares, but her stake fell by 42.06%. The stock was trading lower on Monday at $81.33, down $3.52 on the day.
• PTC Therapeutics recently reported better-than-expected quarterly results, with EPS of -$0.03 versus an expected -$0.45 and revenue of $272.55 million, up 43.5% year over year. Analysts currently rate the stock a Moderate Buy with an average target price of $91.57.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Mary Smith sold 15,834 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the completion of the transaction, the director owned 21,813 shares in the company, valued at $1,963,170. This represents a 42.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded down $3.52 during trading on Monday, hitting $81.33. 985,944 shares of the company were exchanged, compared to its average volume of 1,484,511. The stock has a market capitalization of $6.75 billion, a P/E ratio of -34.91, a PEG ratio of 3.90 and a beta of 0.53. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $90.87. The firm's 50 day moving average price is $75.56 and its 200-day moving average price is $72.73.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business had revenue of $272.55 million during the quarter, compared to analysts' expectations of $217.42 million. During the same quarter in the prior year, the business posted $10.04 EPS. The company's revenue for the quarter was up 43.5% on a year-over-year basis. As a group, equities research analysts anticipate that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings cut PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Wells Fargo & Company raised their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Jefferies Financial Group raised PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their price target for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.57.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC purchased a new position in PTC Therapeutics during the 1st quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of PTC Therapeutics by 11.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock valued at $9,109,000 after acquiring an additional 18,504 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company's stock worth $121,000 after acquiring an additional 1,826 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics during the second quarter worth about $1,661,000. Finally, EverSource Wealth Advisors LLC raised its holdings in PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after purchasing an additional 814 shares in the last quarter.

About PTC Therapeutics

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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