PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Sells $58,533.94 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 1,291 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $58,533.94. Following the sale, the chief accounting officer now directly owns 65,983 shares of the company’s stock, valued at $2,991,669.22. This represents a 1.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Christine Marie Utter also recently made the following trade(s):

• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The stock was sold at an average price of $51.77, for a total value of $921,506.00.

PTC Therapeutics Stock Down 2.4 %

NASDAQ:PTCT opened at $43.94 on Monday. PTC Therapeutics, Inc. has a 52 week low of $23.58 and a 52 week high of $54.16. The stock’s fifty day moving average is $45.19 and its two-hundred day moving average is $38.49. The company has a market capitalization of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PTCT. Charles Schwab Investment Management Inc. increased its position in shares of PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after acquiring an additional 47,902 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after purchasing an additional 40,300 shares during the period. Intech Investment Management LLC acquired a new stake in PTC Therapeutics in the 3rd quarter valued at approximately $698,000. Quest Partners LLC raised its position in PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 18,171 shares during the period. Finally, State Street Corp lifted its stake in PTC Therapeutics by 5.4% during the third 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTCT. Robert W. Baird lifted their price target on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. UBS Group lifted 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. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $67.00 in a research report on Friday, December 13th. Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.08.

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.