PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 15,521 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 15,521 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total transaction of $827,269.30. Following the transaction, the vice president now owns 103,901 shares in the company, valued at $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The shares were sold at an average price of $50.10, for a total value of $66,783.30.
• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total value of $69,959.62.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $54.50 on Friday. The company has a market cap of $4.30 billion, a P/E ratio of -9.18 and a beta of 0.66. The stock’s 50-day moving average is $48.60 and its 200 day moving average is $43.51. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $55.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Vanguard Group Inc. lifted its position in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock valued at $414,332,000 after acquiring an additional 53,688 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at $148,363,000. State Street Corp boosted its position in shares of PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares in the last quarter. Janus Henderson Group PLC grew its stake in PTC Therapeutics by 24.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after buying an additional 455,698 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after buying an additional 10,886 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Scotiabank started coverage on PTC Therapeutics in a research report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price objective on the stock. Barclays raised their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. UBS Group upped their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of PTC Therapeutics from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

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.