PTC Therapeutics (NASDAQ:PTCT) Director Sells $83,600.05 in Stock

Key Points

• PTC Therapeutics Director Allan Steven Jacobson sold 1,667 shares for a total of $83,600.05 at an average price of $50.15, reducing his stake by 8.72% to 17,451 shares.
• The company's stock price recently rose to $52.43, with a notable market capitalization of $4.17 billion and an annual trading range between $30.41 and $58.38.
• PTC Therapeutics reported an EPS of ($0.83), surpassing estimates, but the quarterly revenue saw a 4.2% decline compared to the previous year.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Allan Steven Jacobson sold 1,667 shares of PTC Therapeutics stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $50.15, for a total value of $83,600.05. Following the transaction, the director directly owned 17,451 shares of the company's stock, valued at approximately $875,167.65. This represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Allan Steven Jacobson also recently made the following trade(s):

• On Thursday, August 28th, Allan Steven Jacobson sold 1,667 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.15, for a total value of $83,600.05.

PTC Therapeutics Trading Down 1.3%

Shares of NASDAQ PTCT traded down $0.75 during trading on Friday, reaching $57.26. The company had a trading volume of 1,517,110 shares, compared to its average volume of 1,305,081. PTC Therapeutics, Inc. has a twelve month low of $30.59 and a twelve month high of $58.73. The stock has a market capitalization of $4.55 billion, a PE ratio of 8.22 and a beta of 0.53. The stock has a 50-day moving average price of $49.24 and a two-hundred day moving average price of $49.17.

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 for the quarter, topping analysts' consensus estimates of ($1.07) by $0.24. The company had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The business's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PTC Therapeutics by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after buying an additional 205 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in PTC Therapeutics by 3.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company's stock worth $388,000 after buying an additional 231 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 295 shares during the last quarter. Xponance Inc. lifted its holdings in PTC Therapeutics by 5.2% during the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock worth $325,000 after buying an additional 314 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in PTC Therapeutics by 2.0% during the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock worth $874,000 after buying an additional 329 shares during the last quarter.

Wall Street Analyst Weigh In

PTCT has been the subject of several analyst reports. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a research note on Friday, August 8th. Citigroup upped their target price on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company dropped their target price on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $63.00 price target (up from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.