PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 24,585 Shares

Key Points

• PTC Therapeutics VP Mark Elliott Boulding sold a total of 24,585 shares on September 12th, resulting in a transaction valued at approximately $1.5 million.
• Following the sale, Boulding's ownership decreased by 19.13%, leaving him with 103,901 shares valued at around $6.37 million.
• The company recently reported a quarterly revenue of $178.88 million, surpassing analysts' expectations, and posted (-0.83) EPS, beating consensus estimates.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 24,585 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $61.34, for a total transaction of $1,508,043.90. Following the transaction, the vice president owned 103,901 shares of the company's stock, valued at approximately $6,373,287.34. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Mark Elliott Boulding also recently made the following trade(s):

• On Thursday, September 11th, Mark Elliott Boulding sold 22,664 shares of PTC Therapeutics stock. The shares were sold at an average price of $61.00, for a total transaction of $1,382,504.00.

PTC Therapeutics Trading Down 3.4%

NASDAQ:PTCT traded down $2.09 during trading hours on Monday, hitting $59.00. 1,300,729 shares of the company traded hands, compared to its average volume of 1,104,518. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 8.46 and a beta of 0.53. PTC Therapeutics, Inc. has a twelve month low of $33.58 and a twelve month high of $62.18. The firm has a 50-day moving average of $50.27 and a 200 day moving average of $49.47.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.24. The firm had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in PTC Therapeutics by 1,603.8% during the 2nd quarter. Squarepoint Ops LLC now owns 181,978 shares of the biopharmaceutical company's stock worth $8,888,000 after buying an additional 171,297 shares during the period. Headlands Technologies LLC bought a new position in shares of PTC Therapeutics in the second quarter valued at $453,000. CANADA LIFE ASSURANCE Co grew its stake in shares of PTC Therapeutics by 8.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 21,793 shares of the biopharmaceutical company's stock valued at $1,065,000 after buying an additional 1,755 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of PTC Therapeutics by 331.5% in the second quarter. Tower Research Capital LLC TRC now owns 7,309 shares of the biopharmaceutical company's stock valued at $357,000 after buying an additional 5,615 shares in the last quarter. Finally, LGL Partners LLC grew its stake in shares of PTC Therapeutics by 33.3% in the second quarter. LGL Partners LLC now owns 16,000 shares of the biopharmaceutical company's stock valued at $806,000 after buying an additional 4,000 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PTCT shares. UBS Group increased their price objective on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wells Fargo & Company lowered their target price on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $118.00 target price on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Bank of America lowered their target price on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Finally, Citigroup increased their price objective on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

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.

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