In a filing, PTC Therapeutics Inc revealed its EVP & CHIEF MEDICAL OFFICER Golden Lee Scott unloaded Company’s shares for reported $14923.0 on Apr 02 ’24. In the deal valued at $28.37 per share,526 shares were sold. As a result of this transaction, Golden Lee Scott now holds 59,988 shares worth roughly $1.66 million.
Then, Boulding Mark Elliott sold 794 shares, generating $21,637 in total proceeds. Upon selling the shares at $27.25, the EXEC. VP AND CLO now owns 71,189 shares.
Before that, Almstead Neil Gregory sold 618 shares. PTC Therapeutics Inc shares valued at $16,841 were divested by the CHIEF TECHNICAL OPS OFFICER at a price of $27.25 per share. As a result of the transaction, Almstead Neil Gregory now holds 61,202 shares, worth roughly $1.69 million.
Morgan Stanley downgraded its PTC Therapeutics Inc [PTCT] rating to an Underweight from a an Equal-weight in a research note published recently. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in early December with a ‘”an Overweight”‘ rating. Oppenheimer also remained covering PTCT and has increased its forecast on October 30, 2023 with a “an Outperform” recommendation from previously “Perform” rating. Citigroup revised its rating on October 27, 2023. It rated PTCT as “a Sell” which previously was an “a Neutral”.
Price Performance Review of PTCT
On Tuesday, PTC Therapeutics Inc [NASDAQ:PTCT] saw its stock jump 2.68% to $27.60. Over the last five days, the stock has lost -2.82%. PTC Therapeutics Inc shares have risen nearly 0.15% since the year began. Nevertheless, the stocks have fallen -43.49% over the past one year. While a 52-week high of $59.84 was reached on 03/01/24, a 52-week low of $17.53 was recorded on 02/13/24. SMA at 50 days reached $28.04, while 200 days put it at $29.67. A total of 0.44 million shares were traded, compared to the trading of 0.5 million shares in the previous session.
Levels Of Support And Resistance For PTCT Stock
The 24-hour chart illustrates a support level at 26.97, which if violated will result in even more drops to 26.35. On the upside, there is a resistance level at 27.97. A further resistance level may holdings at 28.35. The Relative Strength Index (RSI) on the 14-day chart is 44.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.58%. Stochastics %K at 15.76% indicates the stock is a buying.
How much short interest is there in PTC Therapeutics Inc?
A steep rise in short interest was recorded in PTC Therapeutics Inc stocks on Mar 15, 2024, growing by 0.51 million shares to a total of 10.89 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 10.38 million shares. There was a rise of 4.68%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 19.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 11.28.
