The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PTC Therapeutics Inc shares valued at $14,923 were sold by Golden Lee Scott on Apr 02 ’24. At $28.37 per share, Golden Lee Scott sold 526 shares. The insider’s holdings dropped to 59,988 shares worth approximately $1.51 million following the completion of this transaction.
Also, Boulding Mark Elliott sold 794 shares, netting a total of over 21,637 in proceeds. Following the sale of shares at $27.25 each, the insider now holds 71,189 shares.
Before that, Almstead Neil Gregory had sold 618 shares from its account. In a trade valued at $16,841, the CHIEF TECHNICAL OPS OFFICER traded PTC Therapeutics Inc shares for $27.25 each. Upon closing the transaction, the insider’s holdings decreased to 618 shares, worth approximately $1.54 million.
As published in a research note from Morgan Stanley on December 19, 2023, PTC Therapeutics Inc [PTCT] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $28. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December. As of October 30, 2023, Oppenheimer has increased its “Perform” rating to a “an Outperform” for PTCT. Earlier on October 27, 2023, Citigroup downgraded its rating. Their new recommendation was “a Sell” for PTCT stock which previously was a “a Neutral”.
Analyzing PTCT Stock Performance
During the last five days, there has been a drop of approximately -6.50%. Over the course of the year, PTC Therapeutics Inc shares have dropped approximately -8.71%. Shares of the company reached a 52-week high of $32.90 on 03/01/24 and a 52-week low of $23.58 on 02/13/24. A 50-day SMA is recorded $28.03, while a 200-day SMA reached $29.22. Nevertheless, trading volume fell to 0.67 million shares from 0.96 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 24.80, which, if violated, would cause prices to drop to 24.44. In the upper region, resistance lies at 25.51. The next price resistance is at 25.86. RSI (Relative Strength Index) is 35.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.86, which suggests the price will decrease in the coming days. Percent R is at 92.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
