PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey Sells 5,000 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the sale, the director now owns 8,867 shares in the company, valued at approximately $478,818. This trade represents a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $57.17 on Tuesday. The company has a 50 day simple moving average of $48.83 and a 200-day simple moving average of $43.78. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -9.62 and a beta of 0.66. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $58.66.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. acquired a new position in PTC Therapeutics in the fourth quarter worth approximately $521,000. Charles Schwab Investment Management Inc. increased its holdings in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares during the last quarter. Two Sigma Advisers LP increased its holdings in PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after buying an additional 40,300 shares during the last quarter. Intech Investment Management LLC acquired a new position in PTC Therapeutics in the third quarter worth approximately $698,000. Finally, Quest Partners LLC increased its holdings in PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after buying an additional 18,171 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have commented on PTCT. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Barclays upped their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald upped their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada upped their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average target price 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.