Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PTC Therapeutics Inc. shares valued at $105,857 were sold by Peltz Stuart Walter on Jan 31. At $45.63 per share, Peltz Stuart Walter sold 2,320 shares. The insider’s holdings dropped to 166,962 shares worth approximately $7.55 million following the completion of this transaction.
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Also, Boulding Mark Elliott sold 812 shares, netting a total of over 37,050 in proceeds. Following the sale of shares at $45.63 each, the insider now holds 75,378 shares.
Before that, Almstead Neil Gregory had sold 630 shares from its account. In a trade valued at $28,746, the CHIEF TECHNICAL OPS OFFICER traded PTC Therapeutics Inc. shares for $45.63 each. Upon closing the transaction, the insider’s holdings decreased to 630 shares, worth approximately $2.89 million.
As published in their initiating research note from Goldman on December 14, 2022, PTC Therapeutics Inc. [PTCT] has been a Sell and the price target has been revised to $35. This represents a -29.26% premium over Wednesday’s closing price. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of September 09, 2022, Morgan Stanley has initiated its “an Equal-weight” rating for PTCT. Earlier on September 01, 2022, Citigroup initiated its rating. Their recommendation was “a Buy” for PTCT stock.
Analyzing PTCT Stock Performance
On Wednesday, PTC Therapeutics Inc. [NASDAQ: PTCT] rose 3.60% to $45.24. The stock’s lowest price that day was $42.6901, but it reached a high of $46.14 in the same session. During the last five days, there has been a surge of approximately 2.28%. Over the course of the year, PTC Therapeutics Inc. shares have jumped approximately 18.52%. Shares of the company reached a 52-week high of $49.31 on 01/13/23 and a 52-week low of $37.25 on 01/03/23. A 50-day SMA is recorded $43.62, while a 200-day SMA reached $43.01. Nevertheless, trading volume fell to 1.01 million shares from 0.74 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 43.24, which, if violated, would cause prices to drop to 41.24. In the upper region, resistance lies at 46.69. The next price resistance is at 48.14. RSI (Relative Strength Index) is 52.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.15, which suggests the price will decrease in the coming days. Percent R is at 26.99%, indicating bullish price movement. Stochastics %K at holding 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 Jan 30, 2023 jumping by 0.62 million shares to 5.8 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.18 million shares. A jump of 10.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.59.
Which companies own the most shares of PTC Therapeutics Inc. (PTCT)?
According to Fidelity Management & Research Co filings, the company currently owns 9,518,898 shares, which is about 13.04% of the total PTCT shares outstanding. The investor’s shares have plunged by -15,904 from its previous 13-F filing of 9534802.0 shares. With the completion of the sale transaction, Wellington Management Co. LLP’s stake is now worth $341,004,322. The Vanguard Group, Inc. acquire a 1.75% interest valued at $329.01 million while RTW Investments LP sold a -5,193 stake. A total of 253,893 shares of PTC Therapeutics Inc. were sold by BlackRock Fund Advisors during the quarter, and -979,127 were sold by Franklin Advisers, Inc. In its current portfolio, SSgA Funds Management, Inc. holds 3,438,491 shares valued at $157.79 million.
In terms of PTC Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $51.14 in the next 12 months, up nearly 13.35% from the previous closing price of $43.67. Analysts anticipate PTC Therapeutics Inc. stock to reach $66.00 by 2023, with the lowest price target being $35.00. In spite of this, 15 analysts ranked PTC Therapeutics Inc. stock as an Overweight at the end of 2023. On April 04, 2022, Cantor Fitzgerald assigned a price target of “an Overweight” to the stock and resumed coverage with a $63.