Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PTC Therapeutics Inc. shares valued at $20,074 were sold by Svoronos Dawn on Jun 09. At $27.20 per share, Svoronos Dawn sold 738 shares. The insider’s holdings dropped to 29,017 shares worth approximately $1.43 million following the completion of this transaction.
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Also, Peltz Stuart Walter sold 407 shares, netting a total of over 10,919 in proceeds. Following the sale of shares at $26.83 each, the insider now holds 38,239 shares.
Before that, Klein Matthew B. had sold 897 shares from its account. In a trade valued at $38,136, the CHIEF OPERATING OFFICER traded PTC Therapeutics Inc. shares for $42.52 each. Upon closing the transaction, the insider’s holdings decreased to 897 shares, worth approximately $2.78 million.
Analysts at BofA Securities downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in mid October. Earlier on March 29, 2021, RBC Capital Mkts upgraded its rating. Their new recommendation was “a Sector perform” for PTCT stock which previously was a “an Underperform”.
Analyzing PTCT’s Price Performance
On Thursday, PTC Therapeutics Inc. [NASDAQ: PTCT] rose 2.95% to $49.23. The stock’s lowest price that day was $47.62, but it reached a high of $49.88 in the same session. During the last five days, there has been a surge of approximately 10.90%. Over the course of the year, PTC Therapeutics Inc. shares have jumped approximately 23.60%. Shares of the company reached a 52-week high of $49.88 on 08/04/22 and a 52-week low of $25.01 on 06/16/22. A 50-day SMA is recorded $37.67, while a 200-day SMA reached $38.16. Nevertheless, trading volume fell to 1.35 million shares from 0.54 million shares the previous day.
Support And Resistance Levels for PTC Therapeutics Inc. (PTCT)
According to the 24-hour chart, there is a support level at 47.94, which, if violated, would cause prices to drop to 46.65. In the upper region, resistance lies at 50.20. The next price resistance is at 51.17. RSI (Relative Strength Index) is 76.05 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.10, which suggests the price will increase in the coming days. Percent R is at 9.14%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is PTC Therapeutics Inc. subject to short interest?
Stocks of PTC Therapeutics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 20000.0 shares to 5.64 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.62 million shares. A jump of 0.35% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.29 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.29.
Which companies own the most shares of PTC Therapeutics Inc. (PTCT)?
According to Fidelity Management & Research Co filings, the company currently owns 9,516,555 shares, which is about 13.34% of the total PTCT shares outstanding. The investor’s shares have appreciated by 64,999 from its previous 13-F filing of 9451556.0 shares. With the completion of the sale transaction, Wellington Management Co. LLP’s stake is now worth $326,510,672. The Vanguard Group, Inc. acquire a 6.42% interest valued at $287.78 million while RTW Investments LP sold a -72,738 stake. A total of 30,087 shares of PTC Therapeutics Inc. were sold by Franklin Advisers, Inc. during the quarter, and -65,028 were sold by BlackRock Fund Advisors. In its current portfolio, SSgA Funds Management, Inc. holds 3,184,027 shares valued at $127.55 million.
In terms of PTC Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $49.90 in the next 12 months, up nearly 2.47% from the previous closing price of $47.82. Analysts anticipate PTC Therapeutics Inc. stock to reach $65.00 by 2022, with the lowest price target being $34.00. In spite of this, 11 analysts ranked PTC Therapeutics Inc. stock as an Overweight at the end of 2022.