PTC Therapeutics (NASDAQ:PTCT) Insider Sells 2,464 Shares of Stock

Key Points

• PTC Therapeutics insider Neil Gregory Almstead sold 2,464 shares on July 9 at an average price of $90.25, for proceeds of about $222,376. The sale was made under a pre-arranged Rule 10b5-1 plan.
• Almstead has also sold multiple additional blocks of PTCT shares in recent days, including transactions on June 22, June 24, June 25, June 26, July 6, and July 7. After the latest sale, he still directly owned 60,299 shares valued at about $5.44 million.
• PTC Therapeutics recently reported quarterly EPS of -$0.03, beating expectations, on revenue of $272.55 million, which was also above analyst estimates. Analysts currently have a consensus rating of Moderate Buy with an average price target of $91.57.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 2,464 shares of the business's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $90.25, for a total value of $222,376.00. Following the transaction, the insider directly owned 60,299 shares of the company's stock, valued at $5,441,984.75. This trade represents a 3.93% decrease in their position. The transaction 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.

Neil Gregory Almstead also recently made the following trade(s):

• On Monday, July 6th, Neil Gregory Almstead sold 22,161 shares of PTC Therapeutics stock. The shares were sold at an average price of $86.00, for a total value of $1,905,846.00.
• On Tuesday, July 7th, Neil Gregory Almstead sold 24,613 shares of PTC Therapeutics stock. The shares were sold at an average price of $88.89, for a total value of $2,187,849.57.
• On Friday, June 26th, Neil Gregory Almstead sold 8,130 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.26, for a total value of $693,163.80.
• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.97, for a total value of $1,801,931.20.
• On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.03, for a total transaction of $452,614.69.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total transaction of $1,921,294.10.

PTC Therapeutics Stock Performance

Shares of PTCT traded down $3.52 during mid-day trading on Monday, reaching $81.33. The company had a trading volume of 985,944 shares, compared to its average volume of 1,484,511. The company's 50 day simple moving average is $75.56 and its 200 day simple moving average is $72.73. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $90.87. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -34.91, a P/E/G ratio of 3.90 and a beta of 0.53.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on PTCT shares. TD Cowen upgraded shares of PTC Therapeutics from a "hold" rating to a "buy" rating and upped their price target for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Jefferies Financial Group raised PTC Therapeutics from a "hold" rating to a "buy" rating and raised their price objective for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Truist Financial upgraded PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Weiss Ratings cut PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Finally, Citigroup upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $91.57.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently modified their holdings of the business. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics during the fourth quarter worth $26,000. Comerica Bank grew its stake in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in PTC Therapeutics in the fourth quarter valued at $41,000. IFP Advisors Inc increased its holdings in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 310 shares during the period. Finally, Allworth Financial LP increased its holdings in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 247 shares during the period.

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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